USDNOK Technical Analysis: Weekly Chart

In the weekly charts, USDNOK was trading in up channel. USDNOK is currently trading above all SMA.

RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 9.5843 & the resistance level is at 9.9149.

USDNOK was trading in up channel before there is breakout upside.

USDNOK Technical Analysis: Daily Chart

In the daily charts, USDNOK is trading in a down channel. USDNOK is currently trading below 20 and 50 days SMA & above 100 days SMA.

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 9.6770 & the resistance level is at 9.7883.

USDNOK will trading in down channel until there is trend reversal.  

How to Trade USDNOK this Week:

USDNOK will follow the downtrend until their trend reversal. So, remain bearish on USDNOK.

TRADE SUGGESTION- SELL AT 9.7268, TAKE PROFIT AT 9.6770 AND STOP LOSS AT 9.7883