USD/NOK may fall to 9.9860 - 10.1630

Our pivot point is at 10.7900.

Our preference

The downside prevails as long as 10.7900 is resistance.

Alternative scenario

The upside breakout of 10.7900, would call for 11.0890 and 11.2670.

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 is trading under both its 20 and 50 period moving average (respectively at 10.7214 and 10.7289).

Supports and resistances

11.2670 **

11.0890 *

10.7900 **

10.6720

10.5284 last

10.1630

9.9860 **

9.8080 *

9.6300 **

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