EUR/NOK may fall to 10.9020 - 11.0290

Our pivot point is at 11.4850.

Our preference

The downside prevails as long as 11.4850 is resistance.

Alternative scenario

The upside breakout of 11.4850, would call for 11.6980 and 11.8250.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 11.4153 and 11.5700).

Supports and resistances

11.8250 **

11.6980 *

11.4850 **

11.4010

11.3027 last

11.0290

10.9020 **

10.7760 *

10.6490 **

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