The US Dollar, British Pound and Euro all appear on the 'Losers' list versus the Norwegian Krone.
The first rate, shown on the right, lost 0.8% and has also plotted a 'Peak' Key Day Reversal from NK6.2005, to reassert the decline from this year's ceiling near NK6.3000. A sustained push past initial resistance is now needed to improve the outlook for the Greenback.
The Sterling/NOK rate also shed 0.8%. In Tuesday's hotline, it was pointed out that, although the decline had paused, the lack of a dynamic rebound meant that there was still a risk of a downside renewal once the Pound had corrected its oversold condition. The rate heads for potential support near the 200-day MA, around NK10.10.
The single European currency has posted a 0.6% loss. The rate falls towards the May/June floor near NK8.10. We would point out that the RSI is in oversold territory, so some reprieve is possible thereabouts.
N.B. Due to a public holiday in the