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FxWirePro: USD/NOK breaks below 11.000, major support at 10-DMA

  • The Norwegian Krone rose, extending prior session gains as the greenback eased from 3-year peaks.
  • The dollar tumbled after the U.S. Federal Reserve unveiled unlimited quantitative easing and programs to support credit markets.
  • USD/NOK trades 5.1 percent lower at 10.9732, having touched an all-time high of 12.1224 on Thursday.
  • Momentum indicators are turning bearish: RSI has rolled over from overbought levels and Stochs are biased lower.
  • Immediate resistance is located at 11.6750, and close above could take it till 11.7045.
  • On the downside, support is around 10.7895, break below could take it till 10.7501.
  • Market Data
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