NOK/SEK may rise 36 - 56 pips

Our pivot point is at 0.9780.

Our preference

As long as 0.9780 is support look for 0.9870.

Alternative scenario

The downside breakout of 0.9780 would call for 0.9750 and 0.9740.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (0.9816) but above its 50 period moving average (0.9797).

Supports and resistances

0.9900 **

0.9890 *

0.9870 **

0.9850

0.9814 last

0.9790

0.9780 **

0.9750 *

0.9740 **

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