NOK/SEK may rise 36 - 56 pips

Our pivot point stands at 0.9620.

Our preference

The upside prevails as long as 0.9620 is support.

Alternative scenario

The downside breakout of 0.9620 would call for 0.9600 and 0.9580.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.9651 and 0.9648).

Supports and resistances

0.9740 **

0.9720 *

0.9710 **

0.9690

0.9654 last

0.9630

0.9620 **

0.9600 *

0.9580 **

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