USDNOK Up 10 Pips in Last Hour, Underperforms All Forex; But Still in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 3, 2021 2:14 GMT)

Currently, USDNOK’s rate is up 0.1 pips (0.01%) from the hour prior. The hourly chart shows that USDNOK has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly 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.

USDNOK End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of USDNOK continues; to start today, it came in at a price of 8.6429, down 483 pips (0.56%) since yesterday. It may be worth observing that USDNOK was the worst performer of the 39 members in the Forex asset class over the past day. The price chart of USDNOK below illustrates.

USDNOK

USDNOK Technical Analysis

The first thing we should note is that the current price of USDNOK is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days.