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Add as a preferred source on Google FxWirePro: USD/NOK halts 3-day rally, intraday bias bearish The Norwegian Krone nudged higher, retreating from a near 1-week low hit in the previous session. USD/NOK trades 0.3 percent lower at 9.1084, having touched a high of 9.2127 on Wednesday, its highest since November 4. Mo…
By FxWirePro Team Nov 21, 2019, 9:44 AM UTC
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The Norwegian Krone nudged higher, retreating from a near 1-week low hit in the previous session.
USD/NOK trades 0.3 percent lower at 9.1084, having touched a high of 9.2127 on Wednesday, its highest since November 4.
Momentum indicators are bearish: RSI weak at 47.07, Stochs are biased lower and MACD supports downside.
20-EMA is acting as immediate resistance.
Next resistance is located at 9.1694, and close above could take it till 9.1863.
On the downside, support is around 9.0903, break below could take it till 9.0851 (55-EMA).
Recommendation: Good to sell on rallies around 9.1297, with stop loss at 9.1355, and target price of 9.0903.
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