USD/NOK may rise 664 - 954 pips

10.7650 is our pivot point.

Our preference

Our next up target stands at 10.9070.

Alternative scenario

The downside breakout of 10.7650 would call for 10.7160 and 10.6860.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.7945 and 10.7931).

Supports and resistances

10.9660 **

10.9360 *

10.9070 **

10.8780

10.8116 last

10.7840

10.7650 **

10.7160 *

10.6860 **

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