USD/NOK may fall 727 - 1017 pips

Our pivot point stands at 10.7460.

Our preference

The downside prevails as long as 10.7460 is resistance.

Alternative scenario

Above 10.7460, look for 10.7950 and 10.8240.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.7187 and 10.7242).

Supports and resistances

10.8240 **

10.7950 *

10.7460 **

10.7270

10.7067 last

10.6340

10.6050 **

10.5760 *

10.5470 **

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