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Add as a preferred source on Google FxWirePro: USD/NOK breaks below 10-DMA, dip till 9.1976 likely The Norwegian Krone surged, extending previous session gains as investors continued to digest better-than-expected consumer confidence figures. USD/NOK trades 0.3 percent lower at 9.2160, having touched a record high of …
By FxWirePro Team Feb 12, 2020, 11:01 AM UTC
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The Norwegian Krone surged, extending previous session gains as investors continued to digest better-than-expected consumer confidence figures.
USD/NOK trades 0.3 percent lower at 9.2160, having touched a record high of 9.3057 on Monday.
Momentum indicators are bearish on hourly charts: RSI weak at 29.52, Stochs are biased lower and MACD supports downside.
Immediate resistance is located at 9.2680, and close above could take it till 9.2989.
On the downside, support is around 9.1976, break below could take it till 9.1824.
Recommendation: Good to sell on rallies around 9.2380, with stop loss at 9.2489 and target price of 9.1976.
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