Upside Vulnerability in USD/NOK
From an hourly perspective, the USD/NOK has reached its lowest momentum reading of the last 20 days of trading.
Moreover, the recent plummeting USD/NOK price action has been highlighted by an above-average reading in the MACD histogram.
While
these momentum extremes could migrate to higher time frames, the latest
hourly MACD print shows dissipation of speed, thus communicating risks
of a immediate upside vulnerability.
