EUR/NOK may rise to 12.3840 - 12.5440

Our pivot point stands at 11.7800.

Our preference

The upside prevails as long as 11.7800 is support.

Alternative scenario

Below 11.7800, expect 11.5130 and 11.3540.

Comment

The RSI is above its neutrality area at 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 11.8507 and 11.5939).

Supports and resistances

12.8640 **

12.7040 *

12.5440 **

12.3840

12.0173 last

11.8840

11.7800 **

11.5130 *

11.3540 **

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