NOK/SEK may rise 30 - 40 pips

Our pivot point stands at 1.0060.

Our preference

The upside prevails as long as 1.0060 is support.

Alternative scenario

The downside breakout of 1.0060 would call for 1.0040 and 1.0030.

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 1.0058 and 1.0055). Finally, the NOK/SEK is trading above its upper Bollinger band (standing at 1.0083).

Supports and resistances

1.0160 **

1.0140 *

1.0130 **

1.0120

1.0090 last

1.0070

1.0060 **

1.0040 *

1.0030 **

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