USD/NOK may rise to 10.9050 - 11.0860

Our pivot point stands at 10.2790.

Our preference

Rebound towards 11.0860.

Alternative scenario

Below 10.2790, expect 9.9750 and 9.7940.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 10.5810 and 10.7345).

Supports and resistances

11.4490 **

11.2670 *

11.0860 **

10.9050

10.5356 last

10.3980

10.2790 **

9.9750 *

9.7940 **

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