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

• The Norwegian Krone eased, hovering towards a near 2-week trough hit in the previous session ahead of inflation figures due tomorrow. 
   
• Norway's inflation rate is expected to rise at an annualized rate of 1.6 percent, while on a monthly basis it is likely to increase 0.3 percent. 
   
• USD/NOK trades 0.1 percent higher at 8.8701, having touched a high of 8.8806 on Wednesday, its highest since December 27.
   
• Momentum indicators are bullish on hourly charts: RSI strong at 60.80, MACD supports upside and Stoch are biased higher.
   
• Immediate resistance is located at 8.8930, and close above could take it till 8.957 (20-EMA).
   
• On the downside, support is around 8.8324 (10-DMA), break below could take it till 8.8038.

Recommendation: Good to buy on dips around 8.8620, with stop loss at 8.8403 and target price of 8.8930.