NOK/SEK may fall 42 - 52 pips

Our pivot point is at 0.9930.

Our preference

The downside prevails as long as 0.9930 is resistance.

Alternative scenario

The upside breakout of 0.9930, would call for 0.9950 and 0.9960.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.9944 and 0.9957). Finally, the NOK/SEK is trading below its lower Bollinger band (standing at 0.9907).

Supports and resistances

0.9960 **

0.9950 *

0.9930 **

0.9920

0.9902 last

0.9860

0.9850 **

0.9830 *

0.9820 **

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