USD/NOK may rise 638 - 938 pips

Our pivot point is at 10.7100.

Our preference

The upside prevails as long as 10.7100 is support.

Alternative scenario

Below 10.7100, expect 10.6610 and 10.6320.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.7231 and 10.7008).

Supports and resistances

10.9050 **

10.8760 *

10.8470 **

10.8170

10.7532 last

10.7290

10.7100 **

10.6610 *

10.6320 **

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