FxWirePro: USD/NOK halts 4-day rally, finds support at 7-EMA
The Norwegian Krone rebounded from an over 2-week low, as the greenback plunged against a basket of currencies. The dollar index eased amid growing expectations of a new U.S. stimulus package before Election Day. On Sund…
The Norwegian Krone rebounded from an over 2-week low, as the greenback plunged against a basket of currencies.
The dollar index eased amid growing expectations of a new U.S. stimulus package before Election Day.
On Sunday, House Speaker Nancy Pelosi said that differences remained with President Donald Trump’s administration on a wide-ranging coronavirus relief package but that she was optimistic legislation could be pushed through before Election Day.
USD/NOK trades 0.7 percent lower at 9.2930, having touched a high of 9.4110 on Thursday, its highest since September 30.
Immediate resistance is located at 9.4010, close above could take it till 9.4110.
On the downside, support is around 9.2790 (7-EMA), break below could take it till 9.2568 (5-DMA).
