USD/NOK may fall 770 - 1050 pips

10.5380 is our pivot point.

Our preference

The downside prevails as long as 10.5380 is resistance.

Alternative scenario

Above 10.5380, look for 10.5860 and 10.6150.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.5130 and 10.5000).

Supports and resistances

10.6150 **

10.5860 *

10.5380 **

10.5200

10.4990 last

10.4220

10.3940 **

10.3650 *

10.3370 **

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