USDNOK Pull-back in full motion. Buy it.
The USDNOK pair is trading within a 1 year Channel Up with the price above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). Last week's rejection on the 0.786 Fibonacci retracement level is similar with the one in March 16 2023, which after pulling back to the 1D MA50 and was contained above the 0.382 Fibonacci, it reversed upwards to a new Higher High just below the 1.236 Fibonacci extension. As a result, we will buy the current pull-back and target 11.5000.
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