EUR/NOK may rise to 11.7430 - 11.8730

Our pivot point stands at 11.2830.

Our preference

Rebound towards 11.8730.

Alternative scenario

Below 11.2830, expect 11.0660 and 10.9370.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 11.5044 and 11.6205).

Supports and resistances

12.1320 **

12.0020 *

11.8730 **

11.7430

11.4778 last

11.3690

11.2830 **

11.0660 *

10.9370 **

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