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FxWirePro: USD/NOK hits 1-week peak, intra-day bias bullish

  • The Norwegian Krone edged lower, extending losses for the fourth straight session as the greenack recouped early session losses.
  • USD/NOK currently trades up at 8.5974, having recorded a 1-week high of 8.6010 earlier.
  • Technical indicators support upside in the pair - RSI strong at 50.69, Stochs are biased higher, MACD supports uptrend.
  • Immediate resistance is around 8.6116 (61.8% retracement of 8.6759 and 8.5194), break above could take it near 8.6642 (July 10 High).
  • On the lower side, 8.5589 (21-DMA) is acting as next immediate support and any break below 8.5194 (July 12 Low) could see reversal in trend.

Recommendation: Good to go long around 8.5700, with stop loss at 8.5589 and target price of 8.6166.

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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451.7 Stale

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USISM NY Biz Conditions

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50 %

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48.6 %

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January 22 19:00 UTC 832170832170m

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-1541 %

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-1541 %

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January 31 00:00 UTC 820350820350m

ARAnnual Primary Balance*

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