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- The Norwegian Krone eased, extending losses for the third straight session following mixed growth data.
- Norway's gross domestic product expanded 1.30 percent in the third quarter over the same quarter of the previous year.
- On a quarterly basis, the Norwegian economy showed no growth in the three months to September, after a downwardly revised 0.2 percent expansion in the previous period and missing market forecast of a 0.5 percent expansion.
- USD/NOK trades 0.3 percent up at 9.1523, having touched a high of 9.2041 on Wednesday, its highest since October 31.
- Momentum indicators are bullish: RSI strong at 52.72 and Stochs are biased higher.
- Immediate resistance is located at 9.1749 and close above could take it till 9.2041.
- On the downside, support is around 9.1152, break below could take it till 9.1032.
Recommendation: Good to buy on dips around 9.1270, with stop loss at 9.1152, and target price of 9.1749.
