USD/NOK may fall 634 - 924 pips

Our pivot point stands at 10.9690.

Our preference

The downside prevails as long as 10.9690 is resistance.

Alternative scenario

Above 10.9690, look for 11.0190 and 11.0490.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.9340 and 10.9354).

Supports and resistances

11.0490 **

11.0190 *

10.9690 **

10.9500

10.9274 last

10.8640

10.8350 **

10.8050 *

10.7760 **

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