FxWirePro: USD/NOK steadies near 3-month peak, faces resistance at 9.6000
Friday, September 25, 2020 9:52 AM UTC
- The Norwegian Krone declined, hovering towards a near 3-month low hit in the prior session as investors contiued to digest Norges Bank's policy decision.
- On Thursday, Norway’s central bank kept its policy interest rate on hold at a record-low zero percent and said any hike was still likely to be around two years away, in line with its June statement.
- Moreover, strength in the dollar index further weakened the bid tone around the Norwegian Krone.
- USD/NOK trades 0.7 percent higher at 9.5450, having touched a high of 9.5959 the day before, its highest since July 1.
- On Thursday, the pair rose to a near 3-month peak but ran into strong resistance at 9.6000 to close lower at 9.4793.
- Immediate resistance is located at 9.6000, close above could take it till 9.6335.
- On the downside, support is around 9.4201, break below could take it till 9.4071.