| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
The USD/NOK exchange rate has been trading downwards within a falling wedge pattern since the end of April.
From a theoretical perspective, it is likely that the currency pair could breach the given pattern north within the following trading sessions. Note that the pair could face the resistance level—the Fibo 23.60% at 10.97.
On the other hand, given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs, it is likely that some downside potential could continue to prevail in the market. In this case the rate could gain support from the Fibo 61.80% at 9.30.