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- The Norwegian Krone plunged, hovering towards a time low recorded in the prior session.
- The Norwegian currency attempted a minor recovery earlier in the day but failed to sustain gains.
- USD/NOK trades 0.1 percent higher at 9.3694, having touched a record high of 9.3901 on Monday.
- Momentum indicators are bullish: RSI strong at 67, MACD supports upside and Stochs are biased higher.
- Immediate resistance is located at 9.3821, and close above could take it till 9.3900.
- On the downside, support is around 9.3086 (5-DMA), break below could take it till 9.2966 (7-EMA).
Recommendation: Good to buy on dips around 9.3560, with stop loss at 9.3471, and target price of 9.3821.
