| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇒ | ⇒ |
The USD/NOK exchange rate has been consolidating in the 8.8800 area since the beginning of January.
Note that the currency pair is supported by the 55-, 100– and 200-hour moving averages, currently located circa 8.7500. Thus, it is likely that some upside potential could prevail in the market. A possible upside target is the monthly R1 at 9.0889.
However, note that the exchange rate would have to surpass the resistance level formed by the monthly PP at 8.9261. If the given level holds, it is likely that a reversal south could occur. In this case the rate could target the Fibonacci 38.20% retracement at 8.6461.