USD/NOK may rise to 11.0250 - 11.2020

Our pivot point stands at 10.4010.

Our preference

Rebound.

Alternative scenario

Below 10.4010, expect 10.1040 and 9.9270.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (10.6028) but under its 50 period moving average (10.7759).

Supports and resistances

11.5560 **

11.3790 *

11.2020 **

11.0250

10.6625 last

10.5170

10.4010 **

10.1040 *

9.9270 **

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