NOK/SEK may fall 42 - 52 pips

Our pivot point is at 1.0040.

Our preference

The downside prevails as long as 1.0040 is resistance.

Alternative scenario

The upside breakout of 1.0040, would call for 1.0060 and 1.0070.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.0020 and 1.0023).

Supports and resistances

1.0070 **

1.0060 *

1.0040 **

1.0030

1.0012 last

0.9970

0.9960 **

0.9950 *

0.9940 **

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