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- The Norwegian Krone eased, extending losses from the prior session, as the greenback rebounded from recent lows.
- USD/NOK trades 0.2 percent up at 8.9679, having touched a low of 8.9122 on Monday, its lowest since Aug. 14.
- Momentum indicators are bullish - RSI strong at 51.69 and Stochs have rolled over from oversold levels
- Immediate resistance is around 8.9994 (21-DMA) and any violation above could take it till 9.0485 (August 28 High).
- On the downside, support is located at 8.9252 (August 15 Low) and any break below could take it till 8.8878/ 8.8490 (August 9 Low).
Recommendation: Good to buy on dips around 8.9537, with stop loss at 8.9252 and target price of 8.9994
