CHF/NOK may rise 511 - 761 pips

Our pivot point stands at 12.5240.

Our preference

The upside prevails as long as 12.5240 is support.

Alternative scenario

Below 12.5240, expect 12.4820 and 12.4580.

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 above its 20 and 50 period moving average (respectively at 12.5525 and 12.5489). Finally, the CHF/NOK has crossed above its upper Bollinger band (12.5666).

Supports and resistances

12.6980 **

12.6740 *

12.6490 **

12.6240

12.5729 last

12.5400

12.5240 **

12.4820 *

12.4580 **

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