The closest is the 20 day average, which is 770.8 pips away.
Or to simplify this another way, note that out of the past 30 days usd/nok’s price has gone up 18 them.
The closest is the 20 day average, which is 1050.9 pips away.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern.
Volatility for usd/nok has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.