FxWirePro: Norwegian Krone halts 3-day rally as oil eases from multi-week peaks

• The Norwegian Krone eased, retreating from a 2-week peak as oil prices eased from multi-week peaks.
   
• U.S. oil prices declined from 2-1/2-month highs amid concerns about the damage being done to global demand by the U.S.-China trade war.
   
• USD/NOK trades 0.1 percent higher at 9.1328, having touched a low of 9.1200 on Friday, its lowest since November 22.
   
• On Friday, the pair found strong support at 55-EMA, to close 0.2 percent down at 9.1159.
   
• Momentum indicators are bullish on hourly charts: RSI strong at 54.17, Stoch are biased higher and MACD supports upside.
   
• Immediate resistance is located at 9.1489 (21-DMA), and close above could take it till 9.1638 (10-DMA).
   
• On the downside, support is around 9.1119 (55-EMA), break below could take it till 9.0904.

Recommendation: Good to buy on dips around 9.1234, with stop loss at 9.1119 and target price of 9.1489