EUR/NOK may rise 492 - 732 pips

Our pivot point is at 11.7660.

Our preference

The upside prevails as long as 11.7660 is support.

Alternative scenario

Below 11.7660, expect 11.7260 and 11.7020.

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 trading above both its 20 and 50 period moving average (respectively at 11.7839 and 11.7862). Finally, the EUR/NOK has crossed above its upper Bollinger band (11.7995).

Supports and resistances

11.9220 **

11.8980 *

11.8740 **

11.8500

11.8008 last

11.7820

11.7660 **

11.7260 *

11.7020 **

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