Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

USD/NOK trades higher on weaker oil price, jump till 8.62 is possible

  • Norway's Krone fell to one month low against Dollar on account weaker crude oil prices/NOK has made a high of 8.524 and is currently trading at 8.50.

  • The Korne has been more correlated with crude during past twelve months compared to Canadian dollar, Mexican peso or Brazilian Real.

  • Short trend of Pair is bullish as long as minor 8.420 hold. Any break below targets 8.350/8.3200.

  • Overall bullish invalidation only below 8.2900.

  • On the higher side minor resistance is around 8.53 and break above will take the pair till 8.575/8.620

It is good to buy at dips around 8.470 with SL around 8.420 for the TP of 8.57/8.62 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.