NOK/SEK may rise 33 - 53 pips

Our pivot point is at 0.9650.

Our preference

Our next up target stands at 0.9760.

Alternative scenario

The downside breakout of 0.9650 would call for 0.9620 and 0.9600.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9693 and 0.9704). Finally, the NOK/SEK has crossed above its upper Bollinger band (0.9704).

Supports and resistances

0.9800 **

0.9780 *

0.9760 **

0.9740

0.9707 last

0.9660

0.9650 **

0.9620 *

0.9600 **

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