Chart of the Day - USDNOK - 17th September 2019

The USDNOK range-bound for the time being!

Today we will take a look at the USDNOK , we have broken important resistance above the 8.8 area and have moved up into highs not seen since the early 2000s. As we reach the 9.122 area and produced a nice rejection candle on the daily chart, (3.09.19) we have come off that level.

Currently, price is range-bound between 9.0 and 8.9 areas, if we can break below the lows we could see the 8.8468 area open up and even some symmetry with a fall to the 61.8% retracement around 8.7717.

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