EUR/NOK may rise to 11.7330 - 11.8650

Our pivot point is at 11.2660.

Our preference

Rebound towards 11.8650.

Alternative scenario

Below 11.2660, expect 11.0450 and 10.9140.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (11.4189) but under its 50 period moving average (11.5644).

Supports and resistances

12.1280 **

11.9960 *

11.8650 **

11.7330

11.4489 last

11.3530

11.2660 **

11.0450 *

10.9140 **

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