Chart Of The Day: USD/NOK

USD/NOK finally broke the multi-month trendline (since April highs) on Friday of last week. Today’s dip back towards the 8.9600 level was supported to keep the pair back above the 9.0000 level into the close. RSI is mid-range, but if the USD starts to gain traction against other currencies, the risk of a move back to the breakdown point (June lows) at the 9.2000 level becomes likely.

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