USD/NOK may rise 692 - 982 pips

Our pivot point is at 10.7090.

Our preference

The upside prevails as long as 10.7090 is support.

Alternative scenario

The downside breakout of 10.7090 would call for 10.6600 and 10.6310.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.7467 and 10.7325).

Supports and resistances

10.9070 **

10.8780 *

10.8490 **

10.8200

10.7508 last

10.7280

10.7090 **

10.6600 *

10.6310 **

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