EUR/NOK may rise 355 - 515 pips

Our pivot point is at 11.5750.

Our preference

The upside prevails as long as 11.5750 is support.

Alternative scenario

Below 11.5750, expect 11.5480 and 11.5320.

Comment

The RSI is above 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 11.5785 and 11.5787).

Supports and resistances

11.6800 **

11.6640 *

11.6480 **

11.6320

11.5965 last

11.5860

11.5750 **

11.5480 *

11.5320 **

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