USD/NOK may rise 794 - 1084 pips

10.4750 is our pivot point.

Our preference

The upside prevails as long as 10.4750 is support.

Alternative scenario

Below 10.4750, expect 10.4270 and 10.3980.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5097 and 10.5073).

Supports and resistances

10.6800 **

10.6520 *

10.6230 **

10.5940

10.5146 last

10.4930

10.4750 **

10.4270 *

10.3980 **

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