USD/NOK may rise to 11.2050 - 11.3840

Our pivot point stands at 10.5580.

Our preference

The upside prevails as long as 10.5580 is support.

Alternative scenario

Below 10.5580, expect 10.2590 and 10.0810.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.6341 and 10.6416). Finally, the USD/NOK is trading above its upper Bollinger band (standing at 10.8088).

Supports and resistances

11.7430 **

11.5640 *

11.3840 **

11.2050

10.8323 last

10.6760

10.5580 **

10.2590 *

10.0810 **

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