USD/NOK may rise 627 - 907 pips

Our pivot point stands at 10.6070.

Our preference

As long as 10.6070 is support look for 10.7410.

Alternative scenario

Below 10.6070, expect 10.5590 and 10.5300.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.6471 and 10.6400).

Supports and resistances

10.7990 **

10.7700 *

10.7410 **

10.7130

10.6503 last

10.6260

10.6070 **

10.5590 *

10.5300 **

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