USD/NOK may rise 627 - 917 pips

Our pivot point stands at 10.6480.

Our preference

The upside prevails as long as 10.6480 is support.

Alternative scenario

Below 10.6480, expect 10.5990 and 10.5700.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.6652 and 10.6634). Finally, the USD/NOK is trading above its upper Bollinger band (standing at 10.6868).

Supports and resistances

10.8390 **

10.8100 *

10.7810 **

10.7520

10.6893 last

10.6670

10.6480 **

10.5990 *

10.5700 **

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