USD/NOK may rise 681 - 971 pips

Our pivot point is at 10.5150.

Our preference

Rebound towards 10.6520.

Alternative scenario

The downside breakout of 10.5150 would call for 10.4670 and 10.4380.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.5563 and 10.5724).

Supports and resistances

10.7090 **

10.6800 *

10.6520 **

10.6230

10.5549 last

10.5340

10.5150 **

10.4670 *

10.4380 **

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