EUR/NOK may rise 489 - 659 pips

Our pivot point stands at 11.4690.

Our preference

The upside prevails as long as 11.4690 is support.

Alternative scenario

Below 11.4690, expect 11.4410 and 11.4250.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 11.4917 and 11.4919).

Supports and resistances

11.5950 **

11.5790 *

11.5620 **

11.5450

11.4961 last

11.4800

11.4690 **

11.4410 *

11.4250 **

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