USD/NOK may rise 602 - 902 pips

Our pivot point is at 10.8830.

Our preference

As long as 10.8830 is support look for 11.0190.

Alternative scenario

Below 10.8830, expect 10.8340 and 10.8040.

Comment

The RSI is above 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 10.9155 and 10.8793).

Supports and resistances

11.0780 **

11.0490 *

11.0190 **

10.9890

10.9288 last

10.9030

10.8830 **

10.8340 *

10.8040 **

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