FxWirePro: USD/NOK consolidates near 1-1/2 week trough, intraday bias bearish

• The Norwegian Krone eased, halting a 2-day rally, following mixed economic data.
   
• Norway's industrial production shrank 5.7 percent year-on-year in July, following an 8.6 percent contraction in the previous month. 
   
• Separate data showed, manufacturing production increased 3.80 percent in July over the same month in the previous year.
   
• USD/NOK trades 0.1 percent up at 9.0147, having touched a low of 8.9644 the day before, its lowest since Aug. 26.
   
• Momentum indicator show bearish trend - MACD supports downtrend.
   
• Stochs indicate a bullish crossover, a minor rebound expected. 
   
• Immediate resistance is around 9.0408 (10-DMA) and any violation above could take it till 9.1085 (August 29 High).
   
• On the downside, support is located at 8.9595 (August 19 Low) and any break below could take it till 8.9314 (August 23 Low). 

Recommendation: Good to sell on rallies around 9.0143, with stop loss at 9.0360 and target price of 8.9595.