Wed, Jun 29, 2022 @ 16:22 GMT
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USD/NOK Rises Along The Trendline

Sliding oil prices have forced the crude-dependent Norwegian krone to take a backseat. The dollar has been grinding up along a week-long rising trendline.

Lifting offers around the previous top at 8.6700 has confirmed that buyers are still in control. An RSI in the neutrality area suggests there is still room on the upside and a bullish breakout above 8.6800 could lead to a broader rally.

In the case of a pullback, the demand zone between 8.5400 and 8.5800 could see strong bids from trend followers.

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