EUR/NOK may rise 543 - 793 pips

Our pivot point stands at 11.7600.

Our preference

As long as 11.7600 is support look for 11.8730.

Alternative scenario

Below 11.7600, expect 11.7170 and 11.6920.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.7922 and 11.7747).

Supports and resistances

11.9240 **

11.8980 *

11.8730 **

11.8480

11.7937 last

11.7770

11.7600 **

11.7170 *

11.6920 **

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