CHF/NOK may rise 576 - 846 pips

11.9870 is our pivot point.

Our preference

The upside prevails as long as 11.9870 is support.

Alternative scenario

Below 11.9870, expect 11.9410 and 11.9140.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.9986 and 11.9972). Finally, the CHF/NOK has crossed above its upper Bollinger band (12.0240).

Supports and resistances

12.1680 **

12.1410 *

12.1140 **

12.0870

12.0294 last

12.0040

11.9870 **

11.9410 *

11.9140 **

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