CHF/NOK may fall to 11.8740 - 12.0630

Our pivot point stands at 12.7610.

Our preference

The downside prevails as long as 12.7610 is resistance.

Alternative scenario

Above 12.7610, look for 13.0800 and 13.2700.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 12.4716 and 12.4931).

Supports and resistances

13.2700 **

13.0800 *

12.7610 **

12.6360

12.4605 last

12.0630

11.8740 **

11.6860 *

11.4970 **

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