FxWirePro: USD/NOK extends losses as Norway eases lockdown restrictions
The Norwegian Krone rose, extending previous session gains on rising hopes that Norway’s economy could slowly begin cautious steps to recover its economy. Norway reopened its immigration services, sending a positive sign…
The Norwegian Krone rose, extending previous session gains on rising hopes that Norway’s economy could slowly begin cautious steps to recover its economy.
Norway reopened its immigration services, sending a positive signal that Norway’s coronavirus emergency measures may be further relaxed.
USD/NOK trades 0.3 percent down at 10.4174, having touched a high of 10.5834 on Thursday, its highest April 6.
Immediate resistance is located at 10.5450, and close above could take it till 10.5530.
On the downside, support is around 10.3275, break below could take it till 10.2996 (61.8% Fib).
Recommendation: Good to sell on rallies around 10.4350, with stop loss at 10.4511 and target price of 10.3643 / 10.3275.
