FxWirePro: USD/NOK extends gains ahead of Norway's balance of trade data, good to buy on dips

• The Norwegian Krone declined, extending prior session losses and drifting further away from a near 1-week peak recorded earlier in the week.
   
• USD/NOK trades 0.1 percent higher at 9.2548, having touched a record high of 9.3057 on Monday.
   
• Investors now await Norway's trade balance data due next week, which is likely to show trade surplus decreased to NOK 23.4 billion in January. 
   
• Momentum indicators are bullish: RSI strong at 65.04 and MACD supports upside.
   
• Stochs are biased lower, a minor dip is expected.
   
• Immediate resistance is located at 9.2772, and close above could take it till 9.2927.
   
• On the downside, support is around 9.2352, break below could take it till 9.2152.

Recommendation: Good to buy on dips around 9.2431, with stop loss at 9.2352, and target price of 9.2772.