Today USDNOK reached 13-years high. It happened thanks to break above resistance at 8.6000 which took place last week. Demand couldn’t break above that level in October. The next strong resistances that can stop the current upward movement are at levels of 9.2000, 9.6200. Alternatively if correction start, nearest supports level are at 8.6000, 8.4300.

USDNOK-D1

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Wider view, time-frame Monthly

USDNOK moves almost in vertical uptrend since 2013. During this time the price has appreciated from level 5.4350 to 8.7100. Correction which was in second Quarter of 2015 reached only fibo 38,2% and upward movement continues.

USDNOK-Mont1

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