FxWirePro: USD/NOK retreats from near1-week low, struggles to sustain gains above 200-DMA
Wednesday, November 4, 2020 9:24 AM UTC
- The Norwegian Krone declined, retreating from a near 1-week peak hit earlier in the session as the greenback surged across the board.
- The dollar index rallied as uncertainty crept into the market amid growing suspense over the result of the U.S. presidential election.
- USD/NOK trades 0.9 percent higher at 9.4514, having touched a low of 9.3173 earlier, its lowest since October 29.
- Immediate resistance is located at 9.6080, close above could take it till 9.6335.
- On the downside, support is around 9.2985 (21-DMA), break below could take it till 9.2673.