As the USD/NOK hourly chart illustrates, a cross in the 50-period SMA above the 200-period has been spotted.
In the current scenario, the recently printed low prices are at relatively narrow distance to the SMA juncture which is expected to withstand a collision. Buyers might take advantage of any marginal decline to place their orders.
The risk scenario is a sustained close beyond the 200-SMA.
(Market News Provided by FXstreet)