CHF/NOK may rise 556 - 816 pips

Our pivot point is at 11.8400.

Our preference

Rebound towards 11.9560.

Alternative scenario

Below 11.8400, expect 11.7970 and 11.7720.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.8759 and 11.8982).

Supports and resistances

12.0070 **

11.9810 *

11.9560 **

11.9300

11.8744 last

11.8570

11.8400 **

11.7970 *

11.7720 **

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