The USD/NOK stands mildly down on Friday with the Greenback holding its ground thanks to the cautious tone of the Federal Reserve (Fed) officials.
USD/NOK saw mild losses on Friday’s session, around 10.66. Despite mixed reactions to softening economic data, the Dollar remains steady due to a cautious stance from Fed officials. The Fed recognized progress but that it needs further data to start cutting. The USD/NOK stands mildly down on Friday with the Greenback holding its ground thanks to the cautious tone of the Federal Reserve officials.
USD/NOK technical analysis On the daily chart, the Relative Strength Index for the USD/NOK pair is in negative territory, marking an overall bearish momentum. There is a gradual descent, indicating a continuous sell-off with no immediate signs of reversal. Meanwhile, the Moving Average Convergence Divergence histogram produces flat red bars, suggesting a stable negative momentum supplementing further support to the prevailing downward pressure.
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