FxWirePro: Norwegian Krone at 2-week peak as oil firm on OPEC+ output cut

• The Norwegian Krone rallied to a 2-week peak following a surge in the oil prices.
  
• U.S. oil prices remained near 2-1/2-month highs after OPEC and other producers agreed to cut output.
  
• USD/NOK trades 0.05 percent lower at 9.1330, having touched a low of 9.1220, its lowest since November 22.
  
• Momentum indicators are bearish: RSI weak at 47.49, Stoch are biased lower and MACD supports downside.
  
• Immediate resistance is located at 9.1484 (21-DMA), and close above could take it till 9.1554 (20-EMA).
  
• On the downside, support is around 9.1116 (55-EMA), break below could take it till 9.0904.

Recommendation: Good to sell on rallies around 9.1345, with stop loss at 9.1484 and target price of 9.1116.