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FxWirePro: USD/NOK halts 3-day losing streak, jump till 9.2860 likely

The Norwegian Krone eased, retreating from a near 1-week peak recorded in the prior session. USD/NOK trades 0.5 percent higher at 9.2703, having touched a record high of 9.3057 on Monday. Momentum indicators are bullish:…

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FxWirePro: USD/NOK halts 3-day losing streak, jump till 9.2860 likely
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  • The Norwegian Krone eased, retreating from a near 1-week peak recorded in the prior session. 
     
  • USD/NOK trades 0.5 percent higher at 9.2703, having touched a record high of 9.3057 on Monday.
     
  • Momentum indicators are bullish: RSI strong at 65.92, Stochs are at overbought levels and MACD supports upside.
     
  • Immediate resistance is located at 9.2860, and close above could take it till 9.2930.
     
  • On the downside, support is around 9.2006, break below could take it till 9.1824.

Recommendation: Good to buy on dips around 9.2254, with stop loss at 9.2006, and target price of 9.2860. 

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