USD/NOK may rise to 11.3260 - 11.4790

Our pivot point stands at 10.7560.

Our preference

As long as 10.7560 is support look for 11.4790.

Alternative scenario

Below 10.7560, expect 10.5020 and 10.3510.

Comment

The RSI is above its neutrality area at 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 10.8947 and 10.7140).

Supports and resistances

11.7830 **

11.6310 *

11.4790 **

11.3260

10.9974 last

10.8560

10.7560 **

10.5020 *

10.3510 **

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