USD/NOK may fall 606 - 896 pips

Our pivot point is at 10.5730.

Our preference

The downside prevails as long as 10.5730 is resistance.

Alternative scenario

Above 10.5730, look for 10.6210 and 10.6490.

Comment

The RSI is below its neutrality area at 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 10.5455 and 10.5429).

Supports and resistances

10.6490 **

10.6210 *

10.5730 **

10.5540

10.5286 last

10.4680

10.4390 **

10.4110 *

10.3820 **

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