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FxWirePro: USD/NOK retreats from 1-week low, major support at 10-DMA

  • The Norwegian Krone eased, extending previous session losses, as growing fears of an early second wave of infections in Europe ahead of the summer holidays.
     
  • Prime Minister Erna Solberg stated that Norway must maintain tight control of its borders to avoid importing COVID-19 cases from abroad. 
     
  • USD/NOK trades 0.4 percent higher at 9.5663, having touched a low of 9.4420 on Thursday, its highest June 11. 
     
  • Immediate resistance is located at 9.6134 (20-EMA), close above could take it till 9.6518.
     
  • On the downside, support is around 9.4485 (10-DMA),.break below could take it till 9.4044.
  • Market Data
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