USDNOK is testing the long-term support
USDNOK has reached a strong upside long-term support 9-9.10000. We are seeing a bounce that needs to be confirmed. For an upside extension and higher probability long trade entries, we need to see a break above 9.4100 which is also a falling trend line resistance. Pair reached previously 12.0000 historical high after the bounce off 8.74000. The overall medium-term trend is an uptrend and a break above 8.4100 will give us a higher probability of long trade entries.
Note – We are inclined to long trade entries here with the stop loss below 9.
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