CHF/NOK may rise to 12.0160 - 12.1550

Our pivot point stands at 11.4730.

Our preference

Rebound towards 12.1550.

Alternative scenario

The downside breakout of 11.4730 would call for 11.2420 and 11.1040.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.7446 and 11.8921).

Supports and resistances

12.4330 **

12.2940 *

12.1550 **

12.0160

11.7323 last

11.5640

11.4730 **

11.2420 *

11.1040 **

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