Wed, Jun 29, 2022 @ 15:37 GMT
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USD/NOK 4H Chart: Two Scenarios Likely

Since the beginning of October, the USD/NOK exchange rate has been trading upwards within an ascending channel.

From a theoretical point of view, it is likely that the currency pair could continue to trade upwards within the predetermined channel in the medium term.

In the meantime, note that the exchange rate could gain support from the 55-, 100– and 200-period moving averages in the 9.2700 area. Thus, a breakout north could occur, and the rate could re-test the psychological level at 9.6000.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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