USD/NOK may rise 637 - 927 pips

Our pivot point stands at 10.5360.

Our preference

Rebound towards 10.6690.

Alternative scenario

The downside breakout of 10.5360 would call for 10.4880 and 10.4590.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (10.5731) but below its 50 period moving average (10.6001).

Supports and resistances

10.7260 **

10.6970 *

10.6690 **

10.6400

10.5763 last

10.5550

10.5360 **

10.4880 *

10.4590 **

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