• The Norwegian Krone plunged to 2-1/2 week trough as the greenback rallied against a basket of currencies, while oil prices slumped on fears of a second wave of the coronavirus in Beijing.
   
• Crude oil prices slumped as new coronavirus infections hit China and the United States, raising the prospect that renewed outbreaks of the virus could weigh on the recovery of fuel demand.  
   
• International benchmark Brent crude was trading 1.9 percent lower at $38.16 per barrel by 0945 GMT, having hit a low of $36.98 on Friday, its lowest since May 29. U.S. West Texas Intermediate was trading 3.01 percent down at $35.41 a barrel, after falling as low as $34.38 earlier, its lowest since June 1.
   
• Additionally, the weakness in the Norwegian currency intensified after data showed Norway posted a trade deficit of NOK 1.2 billion in May 2020, easing from NOK 8.9 billion surplus in the same month a year earlier, its first trade gap since last September. 
   
• USD/NOK trades 0.9 percent high at 9.7131, having touched a high of 9.8119 earlier, its highest May 28. 
   
• On Friday, the pair broke above major resistance 20-EMA but retraced to close at 9.6297.
   
• Minor Support 200-DMA
   
• Major Resistance 55-EMA 
   
• Immediate resistance is located at 9.8488, close above could take it till 9.8840.
   
• On the downside, support is around 9.6061, break below could take it till 9.5712.