USD/NOK may rise 651 - 941 pips

Our pivot point stands at 10.4470.

Our preference

Rebound towards 10.5830.

Alternative scenario

Below 10.4470, expect 10.3990 and 10.3710.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (10.4871) but under its 50 period moving average (10.4938).

Supports and resistances

10.6400 **

10.6110 *

10.5830 **

10.5540

10.4889 last

10.4660

10.4470 **

10.3990 *

10.3710 **

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