In the big picture we have seen a triple Zig-zag correction since the high at 10.16 ultimo December 2008. This Triple Zig-zag found support on the red long term support-line and the following rally is clearly a five wave rally, which tells us, that we should at least expect a similar rally from the low of the correction, which calls for a move towards at least 7.7850, just above the long term resistance-line at 7.7100. However a clear break above 7.7100 and more importantly 7.7850 will call for a continuation higher towards 7.95.
The Norwegian crown has been one on the safe-haven currencies during the aftermath from the financial crisis in 2008, but that status seems to be over for now.
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