EUR/NOK may rise 427 - 617 pips

Our pivot point stands at 11.4290.

Our preference

The upside prevails as long as 11.4290 is support.

Alternative scenario

Below 11.4290, expect 11.3980 and 11.3790.

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 11.4474 and 11.4352).

Supports and resistances

11.5570 **

11.5380 *

11.5200 **

11.5010

11.4583 last

11.4420

11.4290 **

11.3980 *

11.3790 **

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