USD/NOK may fall 647 - 937 pips

10.8270 is our pivot point.

Our preference

The downside prevails as long as 10.8270 is resistance.

Alternative scenario

Above 10.8270, look for 10.8760 and 10.9050.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.7963 and 10.8094).

Supports and resistances

10.9050 **

10.8760 *

10.8270 **

10.8070

10.7837 last

10.7190

10.6900 **

10.6610 *

10.6320 **

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