USD/NOK may rise 639 - 929 pips

Our pivot point is at 10.9080.

Our preference

The upside prevails as long as 10.9080 is support.

Alternative scenario

Below 10.9080, expect 10.8590 and 10.8290.

Comment

The RSI is above 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 10.9274 and 10.9035).

Supports and resistances

11.1100 **

11.0800 *

11.0500 **

11.0210

10.9571 last

10.9280

10.9080 **

10.8590 *

10.8290 **

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