FxWirePro: USD/NOK extends losses, major support at 8.9122

• The Norwegian Krone gained, extending previous session gains on yesterday's upbeat Balance of Trade figures.  
   
• USD/NOK trades 0.1 percent down at 8.9480, having touched a low of 8.9199 on Monday, its lowest since September 12.
   
• Momentum indicators are bearish - RSI weak at 48.89, MACD supports downside and Stochs are at oversold levels. 
   
• Immediate resistance is around 9.0063 (August 26 High) and any violation above could take it till 9.0485 (August 28 High).
   
• On the downside, support is located at 8.9122 (September 9 Low) and break below could take it till 8.8878/ 8.8490 (August 9 Low). 

Recommendation: Good to sell on rallies around 8.9603, with stop loss at 8.9782 and target price of 8.9122.