NOK/SEK may rise 43 - 53 pips

Our pivot point is at 0.9790.

Our preference

The upside prevails as long as 0.9790 is support.

Alternative scenario

The downside breakout of 0.9790 would call for 0.9770 and 0.9750.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9809 and 0.9808). Finally, the NOK/SEK is trading above its upper Bollinger band (standing at 0.9824).

Supports and resistances

0.9920 **

0.9900 *

0.9880 **

0.9870

0.9827 last

0.9800

0.9790 **

0.9770 *

0.9750 **

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