FxWirePro: USD/NOK halts 4-day losing streak, major resistance at 5-DMA

• The Norwegian Krone eased, retreating from a near 3-month peak hit in the previous session on the upbeat balance of trade figures.
   
• USD/NOK trades 0.4 percent higher at 9.0382, having touched a low of 8.9793 on Monday, its lowest since September 20.
   
• Momentum indicators are turning bullish on hourly charts: RSI strong at 60.59, MACD supports upside and Stoch show bullish crossover.
   
• Immediate resistance is located at 9.0780 (5-DMA), and close above could take it till 9.0835.
   
• On the downside, support is around 8.9872, break below could take it till 8.9793.

Recommendation: Good to buy on dips around 9.0084, with stop loss at 8.9872, and target price of 9.0780