During yesterday’s trading session USD/NOK traded within the range of 6.0125-6.0578 and closed at 6.0302.
At 8:25 GMT today USD/NOK was gaining 0.11% for the day to trade at 6.0343. The pair touched a daily high at 6.0401 at 7:38 GMT.
Fundamental view
Durable goods orders in the United States probably increased 1.0% in February, according to preliminary estimates, as a month ago orders declined 1.0%. Durable goods category includes new and second hand goods, which are usually used for a period of over three years. It includes motor vehicles, housing furniture, sports goods, construction materials, industrial equipment, metals and minerals and others.
This indicator accounts for a major part of nations factory orders. A larger rate of increase than projected would certainly provide a boost to US dollars demand.
Durable goods orders, which exclude the sector of transportation, probably climbed 0.1% last month, following a 1.1% increase in January.
Durable goods orders, which exclude expenditures in the sector of defense, probably rose 2.5% in February, after a 1.8% drop in January. The official results are due out at 12:30 GMT.
Technical view
According to Binary Tribune’s daily analysis, in case USD/NOK manages to breach the first resistance level at 6.0546, it will probably continue up to test 6.0788. In case the second key resistance is broken, the pair will probably attempt to advance to 6.0998.
If USD/NOK manages to breach the first key support at 6.0092, it will probably continue to slide and test 5.9882. With this second key support broken, the movement to the downside will probably continue to 5.9639.
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