NOK/SEK may rise 36 - 56 pips

Our pivot point is at 0.9550.

Our preference

As long as 0.9550 is support look for 0.9640.

Alternative scenario

The downside breakout of 0.9550 would call for 0.9520 and 0.9500.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9580 and 0.9566).

Supports and resistances

0.9670 **

0.9650 *

0.9640 **

0.9620

0.9584 last

0.9560

0.9550 **

0.9520 *

0.9500 **

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