USD/NOK may rise to 10.9960 - 11.1770

Our pivot point is at 10.3530.

Our preference

Rebound.

Alternative scenario

Below 10.3530, expect 10.0500 and 9.8690.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (10.6029) but under its 50 period moving average (10.6593).

Supports and resistances

11.5400 **

11.3590 *

11.1770 **

10.9960

10.6204 last

10.4730

10.3530 **

10.0500 *

9.8690 **

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