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Add as a preferred source on Google FxWirePro: USD/NOK near 1-week trough, finds support at 7-EMA The Norwegian Krone rose to a near 1-week peak, extending previous session rebound. USD/NOK trades 0.2 percent lower at 9.1909, having touched a high of 9.2894 on Monday, its highest since October 29. Momentum indicators…
By FxWirePro Team Feb 5, 2020, 11:12 AM UTC
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The Norwegian Krone rose to a near 1-week peak, extending previous session rebound.
USD/NOK trades 0.2 percent lower at 9.1909, having touched a high of 9.2894 on Monday, its highest since October 29.
Momentum indicators are bearish on hourly charts: RSI weak at 33.75, Stochs are biased lower and MACD supports downside.
Immediate resistance is located at 9.2680, and close above could take it till 9.2894.
On the downside, support is around 9.1647, break below could take it till 9.1466.
Recommendation: Good to sell on rallies around 9.2006, with stop loss at 9.2329 and target price of 9.1466.
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