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Add as a preferred source on Google FxWirePro: USD/NOK breaks below 11.000, major support at 10-DMA The Norwegian Krone rose, extending prior session gains as the greenback eased from 3-year peaks. The dollar tumbled after the U.S. Federal Reserve unveiled unlimited quantitative easing and programs to support credit ma…
By FxWirePro Team Mar 24, 2020, 9:57 AM UTC
Updated Mar 24, 2020, 9:58 AM UTC 1 min read
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The Norwegian Krone rose, extending prior session gains as the greenback eased from 3-year peaks.
The dollar tumbled after the U.S. Federal Reserve unveiled unlimited quantitative easing and programs to support credit markets.
USD/NOK trades 5.1 percent lower at 10.9732, having touched an all-time high of 12.1224 on Thursday.
Momentum indicators are turning bearish: RSI has rolled over from overbought levels and Stochs are biased lower.
Immediate resistance is located at 11.6750, and close above could take it till 11.7045.
On the downside, support is around 10.7895, break below could take it till 10.7501.
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