| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The USD/NOK exchange rate has been trading up since the end of April since the rate reversed north from the lower boundary of the long-term ascending channel at 8.5000.
As apparent on the chart, the currency pair has already reached the monthly R1 at 8.7385. Given that the currency pair is supported by the 55-, 100– and 200-hour SMAs, it is expected, that some upside potential prevails in the market. The nearest potential upside target is the 8.9000 level.
However, this advance might not be immediate, as the pair has to surpass the resistance level at the 8.8000 mark.