USD/NOK may rise to 11.3220 - 11.5050

10.6960 is our pivot point.

Our preference

The upside prevails as long as 10.6960 is support.

Alternative scenario

The downside breakout of 10.6960 would call for 10.3890 and 10.2070.

Comment

The RSI is above its neutrality area at 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 10.7129 and 10.6437).

Supports and resistances

11.8710 **

11.6880 *

11.5050 **

11.3220

10.9420 last

10.8170

10.6960 **

10.3890 *

10.2070 **

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