CHF/NOK may rise to 12.3970 - 12.5850

Our pivot point stands at 11.7250.

Our preference

The upside prevails as long as 11.7250 is support.

Alternative scenario

Below 11.7250, expect 11.4100 and 11.2230.

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 trading above both its 20 and 50 period moving average (respectively at 11.7803 and 11.8936).

Supports and resistances

12.9620 **

12.7740 *

12.5850 **

12.3970

12.0196 last

11.8490

11.7250 **

11.4100 *

11.2230 **

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