USD/NOK may rise to 11.0520 - 11.2330

Our pivot point stands at 10.4030.

Our preference

Rebound.

Alternative scenario

Below 10.4030, expect 10.1000 and 9.9190.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (10.5964) but below its 50 period moving average (10.7710).

Supports and resistances

11.5960 **

11.4150 *

11.2330 **

11.0520

10.6866 last

10.5220

10.4030 **

10.1000 *

9.9190 **

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