USD/NOK may rise 608 - 898 pips

10.7820 is our pivot point.

Our preference

As long as 10.7820 is support look for 10.9160.

Alternative scenario

Below 10.7820, expect 10.7320 and 10.7030.

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 10.8252 and 10.8017).

Supports and resistances

10.9750 **

10.9460 *

10.9160 **

10.8870

10.8262 last

10.8010

10.7820 **

10.7320 *

10.7030 **

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