Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/NOK hovers towards 2-week peak, good to buy on dips

  • The Norwegian Krone declined, hovering towards a 2-week trough as the greenback steadied against a basket of currencies.
     
  • USD/NOK trades 0.1 percent up at 9.1897, having touched a high of 9.2265 the day before, its highest since October 30.
     
  • Momentum indicators are bullish: RSI strong at 56.85 and Stochs are biased higher. 
     
  • Immediate resistance is located at 9.2107 and a close above could take it till 9.2245.
     
  • On the downside, support is around 9.1579 (21-DMA), break below could take it till 9.1394 (5-DMA).

Recommendation: Good to buy on dips around 9.1790, with stop loss at 9.1690, and target price of 9.2107 

By Lactus Fernandes
  • Market Data
Close

Welcome to EconoTimes

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