| Indicator | 1H | 4H | 1D |
| Buy | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Buy | Sell |
| Alligator (13; 8; 5) | Neutral | Neutral | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇗ | ⇘ |
USD/NOK had formed a channel down prior to breaching this pattern to the upside. From technical perspective, the given breakout did suggest that the pair should have gone for a rally; however, the 200-hour SMA proved to be strong resistance, halting the Greenback on several occasions. A rebound from the channel has not occurred yet; thus, the a near-term direction could be towards the upper channel line circa 8.34. Meanwhile, daily technical indicators flash bearish signals, supporting further decline in price. The closest support may be provided by a four-month low or even the 2017 low at 8.3094 and 8.1869, respectively. In case the rate manages to surpass the 200-hour SMA, a rally may follow.