- The Norwegian Krone retreated from an all-time peak following the release of inflation data.
- Norway's Consumer Price Index increased 0.50 percent in September over the previous month, while core consumer prices increased 2.20 percent in September over the same month in the previous year.
- USD/NOK trades 0.4 percent down at 9.1395, having touched a record high of 9.1815 earlier.
- Momentum indicators are bearish - Stochs are biased lower.
- Immediate resistance is located at 9.1920 and a close above could take it till 9.2041.
- On the downside, support is around 9.1159 (10-DMA), break below could take it till 9.0748 (7-EMA).
Recommendation: Good to sell on rallies around 9.1660, with stop loss at 9.1920 and target price of 9.1159
