USD/NOK may rise 651 - 941 pips

Our pivot point stands at 10.6360.

Our preference

The upside prevails as long as 10.6360 is support.

Alternative scenario

Below 10.6360, expect 10.5880 and 10.5590.

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 10.6676 and 10.6799).

Supports and resistances

10.8360 **

10.8070 *

10.7780 **

10.7490

10.6839 last

10.6550

10.6360 **

10.5880 *

10.5590 **

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