EUR/NOK may rise 616 - 866 pips

Our pivot point stands at 11.6330.

Our preference

Rebound towards 11.7560.

Alternative scenario

Below 11.6330, expect 11.5920 and 11.5670.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.6736 and 11.6865).

Supports and resistances

11.8060 **

11.7810 *

11.7560 **

11.7310

11.6694 last

11.6500

11.6330 **

11.5920 *

11.5670 **

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