USDNOK at Key Resistance Zone – Potential Reversal Setup

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USDNOK is currently trading at a key resistance zone, where sellers may regain control. This level has been a strong area of interest in the past, leading to price reversals. The recent bullish momentum has pushed price into this supply zone, suggesting a potential for bearish continuation if price action confirms a rejection.

If the price confirms rejection from this zone, a move lower toward 11.2010 is likely. However, a strong breakout above could invalidate this setup, shifting momentum back to the bulls.

Do you agree with this analysis? Let me know your thoughts in the comments!

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