EUR/NOK may fall 466 - 656 pips

11.6770 is our pivot point.

Our preference

Under pressure below 11.6770.

Alternative scenario

Above 11.6770, look for 11.7100 and 11.7300.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.6519 and 11.6540).

Supports and resistances

11.7300 **

11.7100 *

11.6770 **

11.6640

11.6456 last

11.5990

11.5800 **

11.5600 *

11.5400 **

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