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.
