| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The US Dollar has been trading in a channel up against the Norwegian Krone for the last six weeks. However, the pair's latest up-wave which began on February 1 was reversed last week near the 7.90 mark.
This suggests that the aforementioned channel might be breached to the downside just for the pair to continue trading within a more senior descending channel. Technical indicators also flash bearish signals. In terms of a possible target within the following two weeks, the US Dollar could aim for the 7.60/65 territory.
On the other hand, this three-day period of decline could just be a short-term correction against the dominant up-trend. In case the 55– and 100-hour SMAs and the weekly and monthly PPs are breached circa 7.83, the Greenback might resume its upward movement and push towards the monthly R1 and the weekly R3 at 8.05.