USD/NOK may rise to 11.0530 - 11.2420

Our pivot point stands at 10.3790.

Our preference

Rebound.

Alternative scenario

The downside breakout of 10.3790 would call for 10.0630 and 9.8750.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (10.5809) but under its 50 period moving average (10.6484).

Supports and resistances

11.6200 **

11.4310 *

11.2420 **

11.0530

10.6482 last

10.5030

10.3790 **

10.0630 *

9.8750 **

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