USD/NOK may rise 675 - 965 pips

10.6940 is our pivot point.

Our preference

The upside prevails as long as 10.6940 is support.

Alternative scenario

The downside breakout of 10.6940 would call for 10.6450 and 10.6160.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.7272 and 10.7171).

Supports and resistances

10.8900 **

10.8610 *

10.8310 **

10.8020

10.7345 last

10.7140

10.6940 **

10.6450 *

10.6160 **

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