NOK/SEK may fall 41 - 51 pips

0.9830 is our pivot point.

Our preference

The downside prevails as long as 0.9830 is resistance.

Alternative scenario

Above 0.9830, look for 0.9860 and 0.9870.

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 0.9830 and 0.9829). Finally, the NOK/SEK is trading below its lower Bollinger band (standing at 0.9813).

Supports and resistances

0.9870 **

0.9860 *

0.9830 **

0.9820

0.9811 last

0.9770

0.9760 **

0.9740 *

0.9730 **

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