USD/NOK may rise 604 - 904 pips

Our pivot point stands at 10.7720.

Our preference

As long as 10.7720 is support look for 10.9130.

Alternative scenario

Below 10.7720, expect 10.7230 and 10.6940.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 10.8140 and 10.7931).

Supports and resistances

10.9710 **

10.9420 *

10.9130 **

10.8830

10.8226 last

10.7920

10.7720 **

10.7230 *

10.6940 **

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