USD/NOK may rise 698 - 988 pips

Our pivot point stands at 10.7990.

Our preference

The upside prevails as long as 10.7990 is support.

Alternative scenario

Below 10.7990, expect 10.7500 and 10.7210.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.8236 and 10.8185).

Supports and resistances

10.9960 **

10.9660 *

10.9370 **

10.9080

10.8382 last

10.8190

10.7990 **

10.7500 *

10.7210 **

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