Chart Of The Day: USD/NOK

 | Jan 12, 2021 06:00PM ET

USD/NOK continued to stay in the descending channel. Risk is increasing for a break higher above the 8.6000 channel resistance, but more importantly the 8.6400 previous support from the August 2020 level. A break above that level could squeeze back towards the 8.8900 resistance and beyond. The divergent RSI is suggesting this is possible.