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Add as a preferred source on Google FxWirePro: USD/NOK consolidates above 9.1000, intraday bias slightly bearish The Norwegian Krone surged, extending previous session gains. On Thursday, the pair retreated from recent highs but closed above the 9.1000 level. USD/NOK trades 0.05 percent down at 9.1185, having touched a high of 9.16…
By FxWirePro Team Oct 4, 2019, 10:05 AM UTC
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The Norwegian Krone surged, extending previous session gains.
On Thursday, the pair retreated from recent highs but closed above the 9.1000 level.
USD/NOK trades 0.05 percent down at 9.1185, having touched a high of 9.1615 on Wednesday, its highest since September 3.
Momentum indicators are bearish on hourly charts - RSI weak at 48.83 and Stochs are biased lower.
Immediate resistance is located at 9.1482 and a close above could take it till 9.1645.
On the downside, support is around 9.0927 (7-EMA), break below could take it till 9.0752 (10-DMA).
Recommendation: Good to sell on rallies around 9.1190, with stop loss at 9.1290 and target price of 9.0904
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