Technicals

Add as a preferred source on Google

FxWirePro: USD/NOK rebounds from 2-week low, jump till 9.1345 likely

The Norwegian Krone retreated from an over 2-week peak, as the greenback surged against a basket of currencies. Last week, the pair rose to an all-time high of 9.1815 but closed lower at 9.0502. USD/NOK trades 0.5 percen…

1 min read
FxWirePro: USD/NOK rebounds from 2-week low, jump till 9.1345 likely
Image from the original EconoTimes article

Read the original article

  • The Norwegian Krone retreated from an over 2-week peak, as the greenback surged against a basket of currencies. 
     
  • Last week, the pair rose to an all-time high of 9.1815 but closed lower at 9.0502. 
     
  • USD/NOK trades 0.5 percent up at 9.1180, having touched a record high of 9.1815 on Thursday.
     
  • Momentum indicators are bullish - RSI is strong at 56.88 and Stochs indicates a bullish crossover. 
     
  • Immediate resistance is located at 9.1437 and a close above could take it till 9.1615.
     
  • On the downside, support is around 9.0611, break below could take it till 9.0391.

Recommendation: Good to buy on dips around 9.0788, with stop loss at 9.0611 and target price of 9.1345. 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560