NOK/SEK may fall 42 - 62 pips

0.9630 is our pivot point.

Our preference

The downside prevails as long as 0.9630 is resistance.

Alternative scenario

The upside breakout of 0.9630, would call for 0.9650 and 0.9670.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.9619 and 0.9615). Finally, the NOK/SEK is trading below its lower Bollinger band (standing at 0.9602).

Supports and resistances

0.9670 **

0.9650 *

0.9630 **

0.9620

0.9602 last

0.9560

0.9540 **

0.9530 *

0.9510 **

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