EUR/NOK may rise 434 - 644 pips

Our pivot point stands at 11.7050.

Our preference

Rebound towards 11.8010.

Alternative scenario

Below 11.7050, expect 11.6710 and 11.6500.

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 (11.7361) but under its 50 period moving average (11.7589).

Supports and resistances

11.8420 **

11.8210 *

11.8010 **

11.7800

11.7366 last

11.7190

11.7050 **

11.6710 *

11.6500 **

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