USD/NOK may rise 719 - 1009 pips

10.5300 is our pivot point.

Our preference

Our next up target stands at 10.6720.

Alternative scenario

Below 10.5300, expect 10.4820 and 10.4530.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 10.5580 and 10.5655).

Supports and resistances

10.7290 **

10.7010 *

10.6720 **

10.6430

10.5711 last

10.5490

10.5300 **

10.4820 *

10.4530 **

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