USD/NOK may fall to 9.9500 - 10.1430

Our pivot point stands at 10.8280.

Our preference

The downside prevails as long as 10.8280 is resistance.

Alternative scenario

The upside breakout of 10.8280, would call for 11.1540 and 11.3490.

Comment

The RSI is below 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 10.8598 and 10.7098). Finally, the USD/NOK is trading below its lower Bollinger band (standing at 10.5964).

Supports and resistances

11.3490 **

11.1540 *

10.8280 **

10.7000

10.5552 last

10.1430

9.9500 **

9.7570 *

9.5630 **

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