EUR/NOK may fall to 11.2420 - 11.3850

Our pivot point is at 11.9070.

Our preference

The downside prevails as long as 11.9070 is resistance.

Alternative scenario

Above 11.9070, look for 12.1470 and 12.2900.

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 11.7414 and 11.7752).

Supports and resistances

12.2900 **

12.1470 *

11.9070 **

11.8120

11.7050 last

11.3850

11.2420 **

11.1000 *

10.9570 **

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