USDNOK is testing the confluence of the support
USDNOK is testing 9.30 support. For the upside extension from here, we need to see a price action break above 9.70 with significant daily close and confirmation. For a downside reversal and higher probability short trade entries, we need to see a break below 9.30. Pair reached previously 9.75 downtrend resistance and pulled back to a confluence of the horizontal support and medium-term uptrend line. The overall trend is the upside and a bounce from here could be used as a long trade opportunity.
Note – We are inclined to long trade entries here with the stop loss below 9.30
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