CHF/NOK may rise to 13.3610 - 13.6390

Our pivot point is at 12.3540.

Our preference

The upside prevails as long as 12.3540 is support.

Alternative scenario

The downside breakout of 12.3540 would call for 11.8900 and 11.6140.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.4610 and 12.3505).

Supports and resistances

14.1960 **

13.9180 *

13.6390 **

13.3610

12.7337 last

12.5360

12.3540 **

11.8900 *

11.6140 **

Number of asterisks represents the strength of support and resistance levels.