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- The Norwegian Krone eased against the euro, reversing most of its previous session gains.
- On Tuesday, the major tumbled to an over 1-month low, however, it rebounded to close higher at 9.8803.
- EUR/NOK trades 0.2 percent up at 9.8761, having touched a low of 9.8450 earlier in the week, its lowest since Aug. 2.
- Stochs indicate a bullish crossover and are on the verge to roll over from oversold levels
- RSI is weak at 45.24 and MACD supports downtrend, a minor dip is expected
- Immediate resistance is around 9.9022 (7-EMA) and any violation above could take it till 9.9267 (20-EMA).
- On the downside, support is located at 9.8300 and close below could drag it till 9.7874.
Recommendation: Good to buy on dips around 9.8566, with stop loss at 9.8300 and target price of 9.9022
