EUR/NOK may rise 461 - 691 pips

11.8020 is our pivot point.

Our preference

The upside prevails as long as 11.8020 is support.

Alternative scenario

Below 11.8020, expect 11.7640 and 11.7420.

Comment

The RSI is above 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 11.8022 and 11.7941).

Supports and resistances

11.9470 **

11.9250 *

11.9020 **

11.8790

11.8329 last

11.8170

11.8020 **

11.7640 *

11.7420 **

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