NOK/SEK may rise 31 - 51 pips

Our pivot point is at 0.9850.

Our preference

Our next up target stands at 0.9940.

Alternative scenario

The downside breakout of 0.9850 would call for 0.9830 and 0.9810.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.9868 and 0.9878). Finally, the NOK/SEK has crossed above its upper Bollinger band (0.9884).

Supports and resistances

0.9970 **

0.9950 *

0.9940 **

0.9920

0.9889 last

0.9860

0.9850 **

0.9830 *

0.9810 **

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