Thursday, October 15, 2026

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FxWirePro: USD/NOK retreats from 1-1/2 week trough, finds support at 20-EMA

The Norwegian Krone nudged lower, hovering away from a 1-1/2 week low hit in the previous session as the greenback surged across the board. The pair found strong support at 20-EMA on Friday to close 0.5 percent higher at…

By FxWirePro Team
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FxWirePro: USD/NOK retreats from 1-1/2 week trough, finds support at 20-EMA
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  • The Norwegian Krone nudged lower, hovering away from a 1-1/2 week low hit in the previous session as the greenback surged across the board. 
     
  • The pair found strong support at 20-EMA on Friday to close 0.5 percent higher at 10.4487.
     
  • Last week, the pair lost around 12 percent as a rush for liquidity weakened the bid tone around the greenback amid coronavirus scare. 
     
  • USD/NOK trades 1.01 percent higher at 10.5620, having touched an all-time high of 12.1224 earlier in the month. 
     
  • Momentum indicators are turning bullish.  
     
  • Immediate resistance is located at 10.6977 / 10.7345, and close above could take it till 10.8200.
     
  • On the downside, support is around 10.3515, break below could take it till 10.2864.

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