EUR/NOK may rise 437 - 627 pips

Our pivot point is at 11.3980.

Our preference

As long as 11.3980 is support look for 11.4870.

Alternative scenario

Below 11.3980, expect 11.3670 and 11.3480.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.4212 and 11.4170).

Supports and resistances

11.5250 **

11.5060 *

11.4870 **

11.4680

11.4243 last

11.4110

11.3980 **

11.3670 *

11.3480 **

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