FxWirePro: USD/NOK slumps from near 2-week peak, fails to sustain gains above 9.700
The Norwegian Krone surged as the greenback eased against a basket of currencies and crude oil prices erased early session losses. Crude oil prices nudged up as oil demand improved after countries across the globe eased …
The Norwegian Krone surged as the greenback eased against a basket of currencies and crude oil prices erased early session losses.
Crude oil prices nudged up as oil demand improved after countries across the globe eased lockdown measures.
Moreover, a recent report that major global producers extended an unprecedented 9.7 million barrels per day supply cut agreement into July further supported prices.
USD/NOK trades 0.3 percent lower at 9.6735, having touched a high of 9.7537 on Friday, its highest June 15.
Major resistance 55-EMA at 9.8002.
Immediate resistance is located at 9.7579, close above could take it till 9.7801.
On the downside, support is around 9.6214 (20-EMA), break below could take it till 9.5894 (10-DMA).
