FxWirePro: USD/NOK steadies near 3-month peak, faces resistance at 9.6000
The Norwegian Krone declined, hovering towards a near 3-month low hit in the prior session as investors contiued to digest Norges Bank's policy decision. On Thursday, Norway’s central bank kept its policy interest rate o…
The Norwegian Krone declined, hovering towards a near 3-month low hit in the prior session as investors contiued to digest Norges Bank's policy decision.
On Thursday, Norway’s central bank kept its policy interest rate on hold at a record-low zero percent and said any hike was still likely to be around two years away, in line with its June statement.
Moreover, strength in the dollar index further weakened the bid tone around the Norwegian Krone.
USD/NOK trades 0.7 percent higher at 9.5450, having touched a high of 9.5959 the day before, its highest since July 1.
On Thursday, the pair rose to a near 3-month peak but ran into strong resistance at 9.6000 to close lower at 9.4793.
Immediate resistance is located at 9.6000, close above could take it till 9.6335.
On the downside, support is around 9.4201, break below could take it till 9.4071.
