USDNOK

(Last Updated April 15, 2021)

Hello! This is the news page for USDNOK. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDNOK

The Trend

If we observe the 90 and 14 day timeframes, we see a downtrend in place for USDNOK.

USDNOK Moving Averages

USDNOK’s moving averages suggest the trend on a number of time horizons is bearish.

Below is a chart showing USDNOK’s price with its moving averages.

In terms of correlations over the past week for USDNOK, it has demonstrated the strongest correlation with USDZAR. Over the past 14 days, however, the asset showing the strongest correlation to USDNOK is EURUSD. Alternatively, the asset least correlated with USDNOK over the past week has been CHFJPY, but over the past two weeks, the asset least correlated with USDNOK has been NZDJPY. The chart below illustrates USDNOK against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, USDNOK’s rate is down -10.17 pips (-1.2%) from the week prior. Moreover, note that this is the 3rd week in a row USDNOK has seen its price head down. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows USDNOK’s price action over the past year.

USDNOK: The Monthly View

Monthly trend: strongest on the 60 month timeframe.