CHF/NOK may rise 596 - 866 pips

Our pivot point stands at 11.9230.

Our preference

Rebound towards 12.0460.

Alternative scenario

The downside breakout of 11.9230 would call for 11.8780 and 11.8510.

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 above its 20 period moving average (11.9585) but below its 50 period moving average (11.9799).

Supports and resistances

12.1000 **

12.0730 *

12.0460 **

12.0190

11.9594 last

11.9410

11.9230 **

11.8780 *

11.8510 **

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