USDNOK false breakout leading to breakdown?

7 Nov

Intraday Update: The USDNOK slammed back to the 10.90's as the Norges CB kept rates unchanged today. As other central banks (like the BOE just minutes ago cutting rates) this has allowed the USDNOK to break back below 11.00. The 11.1500 is shaping up as key resistance and stops below the 10.9000 should be building.