EUR/NOK may rise 641 - 941 pips

11.6770 is our pivot point.

Our preference

Rebound.

Alternative scenario

Below 11.6770, expect 11.6260 and 11.5960.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (11.7082) but below its 50 period moving average (11.7343).

Supports and resistances

11.8760 **

11.8460 *

11.8150 **

11.7850

11.7209 last

11.6970

11.6770 **

11.6260 *

11.5960 **

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