EUR/NOK may fall to 11.2660 - 11.3760

Our pivot point stands at 11.7890.

Our preference

The downside prevails as long as 11.7890 is resistance.

Alternative scenario

Above 11.7890, look for 11.9750 and 12.0860.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.7099 and 11.6636).

Supports and resistances

12.0860 **

11.9750 *

11.7890 **

11.7160

11.6044 last

11.3760

11.2660 **

11.1550 *

11.0450 **

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