NOK/SEK may rise 31 - 51 pips

Our pivot point stands at 0.9610.

Our preference

As long as 0.9610 is support look for 0.9700.

Alternative scenario

The downside breakout of 0.9610 would call for 0.9590 and 0.9570.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.9641 and 0.9640).

Supports and resistances

0.9730 **

0.9710 *

0.9700 **

0.9680

0.9649 last

0.9620

0.9610 **

0.9590 *

0.9570 **

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