USD/NOK may rise 602 - 892 pips

Our pivot point stands at 10.6890.

Our preference

Rebound towards 10.8200.

Alternative scenario

The downside breakout of 10.6890 would call for 10.6400 and 10.6110.

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 under both its 20 and 50 period moving average (respectively at 10.7345 and 10.7448).

Supports and resistances

10.8780 **

10.8490 *

10.8200 **

10.7910

10.7308 last

10.7080

10.6890 **

10.6400 *

10.6110 **

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