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- 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.
