EUR/NOK may rise 384 - 564 pips

11.4350 is our pivot point.

Our preference

Rebound towards 11.5240.

Alternative scenario

Below 11.4350, expect 11.4040 and 11.3850.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (11.4655) but under its 50 period moving average (11.4774).

Supports and resistances

11.5620 **

11.5430 *

11.5240 **

11.5060

11.4676 last

11.4480

11.4350 **

11.4040 *

11.3850 **

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