USD/NOK may rise 791 - 1071 pips

Our pivot point is at 10.4590.

Our preference

The upside prevails as long as 10.4590 is support.

Alternative scenario

The downside breakout of 10.4590 would call for 10.4120 and 10.3830.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.4747 and 10.4847).

Supports and resistances

10.6650 **

10.6370 *

10.6080 **

10.5800

10.5009 last

10.4780

10.4590 **

10.4120 *

10.3830 **

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