USD/NOK may rise to 11.3090 - 11.5340

Our pivot point is at 10.4960.

Our preference

The upside prevails as long as 10.4960 is support.

Alternative scenario

The downside breakout of 10.4960 would call for 10.1210 and 9.8980.

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 10.6300 and 10.7045).

Supports and resistances

11.9830 **

11.7590 *

11.5340 **

11.3090

10.8371 last

10.6430

10.4960 **

10.1210 *

9.8980 **

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