CHF/NOK may rise to 12.9340 - 13.1050

12.2880 is our pivot point.

Our preference

The upside prevails as long as 12.2880 is support.

Alternative scenario

The downside breakout of 12.2880 would call for 12.0030 and 11.8330.

Comment

The RSI is above 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 12.4577 and 12.4766).

Supports and resistances

13.4470 **

13.2760 *

13.1050 **

12.9340

12.5712 last

12.4010

12.2880 **

12.0030 *

11.8330 **

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