USD/NOK may rise 610 - 890 pips

10.4440 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 10.4440, expect 10.3960 and 10.3680.

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 stands above its 20 period moving average (10.4647) but below its 50 period moving average (10.5084).

Supports and resistances

10.6310 **

10.6030 *

10.5740 **

10.5460

10.4850 last

10.4630

10.4440 **

10.3960 *

10.3680 **

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