USD/NOK may rise 778 - 1078 pips

10.9430 is our pivot point.

Our preference

The upside prevails as long as 10.9430 is support.

Alternative scenario

Below 10.9430, expect 10.8930 and 10.8630.

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 10.9865 and 10.9699).

Supports and resistances

11.1590 **

11.1290 *

11.1000 **

11.0700

10.9922 last

10.9630

10.9430 **

10.8930 *

10.8630 **

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