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FxWirePro: USD/NOK break above 21-EMA, outlook remains bullish  

  • The Norwegian Krone plunged to an over 1-week low as Norway reopened immigration services after coronavirus shutdown.
     
  • Norway begun relaxing some of its coronavirus-related emergency measures; passport applications, immigration and residency services are among the police services to be reopened. 
     
  • While the authorities decided to extend the internal border controls which were set to expire of April 15, for another 20 days. 
     
  • USD/NOK trades 1.9 percent up at 10.4905, having touched a high of 10.5262 earlier, its highest April 6. 
     
  • Immediate resistance is located at 10.5440, and close above could take it till 10.5932.
     
  • On the downside, support is around 10.2444, break below could take it till 10.2186.
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