USD/NOK may rise to 11.2650 - 11.4660

Our pivot point is at 10.5280.

Our preference

Our next up target stands at 11.4660.

Alternative scenario

Below 10.5280, expect 10.1920 and 9.9920.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.6043 and 10.7337).

Supports and resistances

11.8680 **

11.6670 *

11.4660 **

11.2650

10.7941 last

10.6590

10.5280 **

10.1920 *

9.9920 **

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