CHF/NOK may rise 769 - 1039 pips

Our pivot point is at 11.8210.

Our preference

The upside prevails as long as 11.8210 is support.

Alternative scenario

The downside breakout of 11.8210 would call for 11.7760 and 11.7490.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.8250 and 11.8279).

Supports and resistances

12.0160 **

11.9890 *

11.9620 **

11.9350

11.8581 last

11.8390

11.8210 **

11.7760 *

11.7490 **

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