NOK/SEK may fall 55 - 65 pips

Our pivot point stands at 0.9780.

Our preference

The downside prevails as long as 0.9780 is resistance.

Alternative scenario

Above 0.9780, look for 0.9810 and 0.9820.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.9777 and 0.9771). Finally, the NOK/SEK is trading below its lower Bollinger band (standing at 0.9758).

Supports and resistances

0.9820 **

0.9810 *

0.9780 **

0.9770

0.9755 last

0.9700

0.9690 **

0.9670 *

0.9650 **

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