USD/NOK may rise 613 - 903 pips

10.6470 is our pivot point.

Our preference

The upside prevails as long as 10.6470 is support.

Alternative scenario

Below 10.6470, expect 10.5980 and 10.5690.

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 trading above both its 20 and 50 period moving average (respectively at 10.6847 and 10.6801).

Supports and resistances

10.8520 **

10.8230 *

10.7940 **

10.7650

10.7037 last

10.6660

10.6470 **

10.5980 *

10.5690 **

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