NOK/SEK may fall 51 - 71 pips

0.9740 is our pivot point.

Our preference

Under pressure below 0.9740.

Alternative scenario

The upside breakout of 0.9740, would call for 0.9770 and 0.9790.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9729 and 0.9711).

Supports and resistances

0.9790 **

0.9770 *

0.9740 **

0.9730

0.9711 last

0.9660

0.9640 **

0.9630 *

0.9610 **

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