The FOMC's latest meeting minutes highlighted the data from the US continues to be good and rate hikes are still likely leading to a boost in the USD. USDNOK we had been monitoring around the key support of 8.3000 to see if the market would break or bounce. Since we have seen the market bounce from this area we could be heading for higher prices especially if the market breaks and closes above the current trendline resistance. The Fibonacci extension of 127.2 sits at highs of 8.6520 where the market could look to target. Looking to our lower timeframes for entries.
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