EUR/NOK may rise to 12.1570 - 12.3240

Our pivot point stands at 11.5490.

Our preference

Our next up target stands at 12.3240.

Alternative scenario

Below 11.5490, expect 11.2700 and 11.1040.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 11.7549 and 11.7957).

Supports and resistances

12.6580 **

12.4910 *

12.3240 **

12.1570

11.8212 last

11.6590

11.5490 **

11.2700 *

11.1040 **

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