FxWirePro: USD/NOK near 2-week peak, likely to test 10.6000
The Norwegian Krone slumped to a near 2-week low as oil prices plunged to multi-year lows. Data released on Wednesday showed U.S. inventories surging the most on record, pushing the U.S. West Texas Intermediate to its lo…
The Norwegian Krone slumped to a near 2-week low as oil prices plunged to multi-year lows.
Data released on Wednesday showed U.S. inventories surging the most on record, pushing the U.S. West Texas Intermediate to its lowest since February 2002.
USD/NOK trades 0.1 percent up at 10.5060, having touched a high of 10.5834 earlier, its highest April 6.
The pair is likely to break aboe 10.6000 level but faces resistance at 21-DMA.
Immediate resistance is located at 10.5955, and close above could take it till 10.6321 (21-DMA).
On the downside, support is around 10.4511, break below could take it till 10.4080 (38.2% Fib).
