FxWirePro: USD/NOK at record peak, intraday bias bullish
The Norwegian Krone plunged to a fresh record low as investors sentiment continued to remain weak on yesterday's data that showed Norway recorded a trade deficit in September. USD/NOK trades 0.8 percent up at 9.1942, hav…
The Norwegian Krone plunged to a fresh record low as investors sentiment continued to remain weak on yesterday's data that showed Norway recorded a trade deficit in September.
USD/NOK trades 0.8 percent up at 9.1942, having touched a record high of 9.1960 earlier.
Momentum indicators are bullish - RSI is strong at 63.66 and Stochs are biased higher.
Immediate resistance is located at 9.2010 and a close above could take it till 9.2190.
On the downside, support is around 9.1006, break below could take it till 9.0748.
Recommendation: Good to buy on dips around 9.1224, with stop loss at 9.1006 and target price of 9.2010.
