USD/NOK may rise 630 - 920 pips

Our pivot point is at 10.6670.

Our preference

As long as 10.6670 is support look for 10.8150.

Alternative scenario

Below 10.6670, expect 10.6180 and 10.5890.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (10.7264) but above its 50 period moving average (10.6792).

Supports and resistances

10.8730 **

10.8440 *

10.8150 **

10.7860

10.7230 last

10.6860

10.6670 **

10.6180 *

10.5890 **

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