USD/NOK Up 60 Pips On Hourly Chart; Eyes 50 Day Average

Hourly Update

(Last Updated August 31, 2022 1:38 GMT)

At the moment, USDNOK’s rate is up 0.6 pips (0.06%) from the hour prior. This is the 2nd consecutive hour USDNOK has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

USDNOK entered today at 9.80949, up 712 pips (0.73%) from yesterday. Out of the 39 instruments in the Forex asset class, USDNOK ended up ranking 7th for the day in terms of price change. Below is a price chart of USDNOK.

USDNOK

USDNOK Technical Analysis

Notably, USDNOK is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. The closest is the 50 day average, which is 389.8 pips away. For additional context, note that price has gone up 9 out of the past 14 days.