FxWirePro: USD/NOK slumps to 1-1/2 week trough, outlook remains bearish
The Norwegian Krone rallied to a 1-1/2 week peak, as the greenback declined against a basket of currencies. The greenback weakened as firmer stock markets prompted investors to seek higher-yielding currencies before the …
The Norwegian Krone rallied to a 1-1/2 week peak, as the greenback declined against a basket of currencies.
The greenback weakened as firmer stock markets prompted investors to seek higher-yielding currencies before the outcome of a U.S. Federal Reserve meeting later in the day.
USD/NOK trades 0.2 percent down at 10.3818, having touched a high of 10.8059 on Thursday, its highest March 25.
Immediate resistance is located at 10.4595 (20-EMA), and close above could take it till 10.4839.
Minor resistance is seen at 10.4243 (21-DMA).
On the downside, support is around 10.3355, break below could take it till 10.3153.
