USD/NOK’s Recovery May Be Threatened By Dovish FOMC Commentary

Chart Of The Day

After briefly breaking below the congestive range between 8.6937-8.7883 (yellow lines), USD/NOK has since recovered and is now aiming to break above the upper lip. The pair may experience some inter-range resistance with the upper crust of the rising support channel (red parallel lines). The dominant uptrend will likely continue if fundamental factors continue to support the demand for liquidity and haven over chasing yields.


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