EUR/NOK may rise 464 - 664 pips

Our pivot point stands at 12.0060.

Our preference

The upside prevails as long as 12.0060 is support.

Alternative scenario

Below 12.0060, expect 11.9720 and 11.9520.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 12.0025 and 11.9537).

Supports and resistances

12.1620 **

12.1420 *

12.1220 **

12.1020

12.0556 last

12.0190

12.0060 **

11.9720 *

11.9520 **

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