USD/NOK may fall 604 - 894 pips

Our pivot point stands at 10.5680.

Our preference

The downside prevails as long as 10.5680 is resistance.

Alternative scenario

Above 10.5680, look for 10.6160 and 10.6440.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 10.5379 and 10.5368).

Supports and resistances

10.6440 **

10.6160 *

10.5680 **

10.5490

10.5254 last

10.4650

10.4360 **

10.4070 *

10.3790 **

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