USDNOK (4H) - short term bullish bias
The US dollar achieved a new high after breaking above the major resistance level of 9.16. It seems that buyers have not jumped ship but are still committed to the rally. We can expect the price to continue its way up as long as the trend line keeps buying interests intact. The RSI has yet to show an over-bought situation, and a few hours of consolidation are likely before another bullish momentum.
Key support: 9.1100
Key resistance: 9.2000
The US dollar achieved a new high after breaking above the major resistance level of 9.16. It seems that buyers have not jumped ship but are still committed to the rally. We can expect the price to continue its way up as long as the trend line keeps buying interests intact. The RSI has yet to show an over-bought situation, and a few hours of consolidation are likely before another bullish momentum.
Key support: 9.1100
Key resistance: 9.2000