USD/NOK may fall to 9.9970 - 10.1520

10.7070 is our pivot point.

Our preference

The downside prevails as long as 10.7070 is resistance.

Alternative scenario

Above 10.7070, look for 10.9670 and 11.1220.

Comment

The RSI is below 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 10.7566 and 10.8140).

Supports and resistances

11.1220 **

10.9670 *

10.7070 **

10.6040

10.5009 last

10.1520

9.9970 **

9.8430 *

9.6880 **

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