- The Norwegian Krone plunged to a fresh record low, weighed down by sliding oil price and the coronavirus epidemic.
- Crude oil prices declined below $30 a barrel as the coronavirus pandemic slowed economic growth and oil demand.
- The government is offering Norway’s sector the equivalent of $9.7 billion to support it through the coronavirus outbreak.
- USD/NOK trades 0.5 percent higher at 10.5130, having touched an all-time high of 10.6130 earlier.
- Momentum indicators are bullish: RSI strong at 82, Stochs are at overbought levels and MACD supports upside.
- Immediate resistance is located at 10.6514, and close above could take it till 10.6709.
- On the downside, support is around 10.2745 (23.6% retracement of 9.1788 and 10.6130), break below could take it till 10.0651 (38.2% retracement)
Recommendation: Good to buy on dips around 10.4699, with stop loss at 10.4200 and target price of 10.6514.


Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
FxWirePro: USD/ CNY hits one-month low,scope for futher downside
JPY Action Bias: EURJPY and CADJPY Emerge as Extremely Bullish Pairs to Watch
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro: GBP/USD rises as soft US data pressures dollar
FxWirePro- Major Pair levels and bias summary
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
FxWirePro:EUR/NZD gains some upside momentum but still bearish 



