FxWirePro: USD/NOK bounces from near 2-month low, intraday bias bullish
The Norwegian Krone declined, retreating from a near 2-month peak hit in the prior session as the greenback surged against a basket of currencies. The dollar gained after U.S. Federal Reserve Chairman Jerome Powell brush…
The Norwegian Krone declined, retreating from a near 2-month peak hit in the prior session as the greenback surged against a basket of currencies.
The dollar gained after U.S. Federal Reserve Chairman Jerome Powell brush off the notion that they might push rates into negative territory after Fed futures began pricing a small chance of sub-zero U.S. rates within the next year.
USD/NOK trades 0.6 percent up at 10.1488, having touched a low of 10.0342 the day before, its lowest March 16.
On Wednesday, the pair extended losses below 55-EMA but retraced to close flat at 10.1567.
Immediate resistance is located at 10.2417 (10-DMA), close above could take it till 10.2891.
On the downside, support is around 10.1298 break below could take it till 10.0990.
