FxWirePro: USD/NOK retreats from 1-week low, major support at 10-DMA
Friday, June 19, 2020 11:52 AM UTC
- The Norwegian Krone eased, extending previous session losses, as growing fears of an early second wave of infections in Europe ahead of the summer holidays.
- Prime Minister Erna Solberg stated that Norway must maintain tight control of its borders to avoid importing COVID-19 cases from abroad.
- USD/NOK trades 0.4 percent higher at 9.5663, having touched a low of 9.4420 on Thursday, its highest June 11.
- Immediate resistance is located at 9.6134 (20-EMA), close above could take it till 9.6518.
- On the downside, support is around 9.4485 (10-DMA),.break below could take it till 9.4044.