USD/NOK may fall 636 - 936 pips

Our pivot point stands at 10.9460.

Our preference

Target 10.8110.

Alternative scenario

Above 10.9460, look for 10.9950 and 11.0250.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (10.9089) but above its 50 period moving average (10.8988).

Supports and resistances

11.0250 **

10.9950 *

10.9460 **

10.9260

10.9046 last

10.8410

10.8110 **

10.7810 *

10.7520 **

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