FxWirePro: USD/NOK rebounds from 2-1/2 month low, finds support at 9.0950
Monday, November 9, 2020 9:54 AM UTC
- The Norwegian Krone declined, retreating from a 2-1/2 month peak as the greenback steadied against a basket of currencies.
- The dollar steadied after tumbling to a 2-month low earlier in the session on expectations of fewer regulatory reforms and more monetary stimulus under U.S. President-elect Joe Biden. Although, Republicans appear to have retained control of the Senate, though the final makeup may not be clear until runoff votes in Georgia in January.
- USD/NOK trades 0.1 percent higher at 9.1393, having touched a low of 9.0949 earlier, its lowest since September 21.
- Immediate resistance is located at 9.1811, close above could take it till 9.2095.
- On the downside, support is around 9.0694, break below could take it till 9.0371.