USD/NOK may rise 698 - 988 pips

Our pivot point is at 10.6220.

Our preference

Rebound towards 10.7630.

Alternative scenario

Below 10.6220, expect 10.5740 and 10.5450.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.6689 and 10.6966).

Supports and resistances

10.8210 **

10.7920 *

10.7630 **

10.7340

10.6642 last

10.6410

10.6220 **

10.5740 *

10.5450 **

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