USD/NOK may rise 607 - 897 pips

Our pivot point stands at 10.6940.

Our preference

Rebound towards 10.8280.

Alternative scenario

Below 10.6940, expect 10.6450 and 10.6160.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (10.7360) but under its 50 period moving average (10.7541).

Supports and resistances

10.8860 **

10.8570 *

10.8280 **

10.7990

10.7383 last

10.7130

10.6940 **

10.6450 *

10.6160 **

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