EUR/NOK may fall 566 - 806 pips

11.9680 is our pivot point.

Our preference

The downside prevails as long as 11.9680 is resistance.

Alternative scenario

Above 11.9680, look for 12.0090 and 12.0330.

Comment

The RSI is below 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 11.9537 and 11.9745).

Supports and resistances

12.0330 **

12.0090 *

11.9680 **

11.9520

11.9346 last

11.8780

11.8540 **

11.8300 *

11.8050 **

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