- The Norwegian Krone rose, halting a 6-day losing streak as investors awaited unemployment rate due tomorrow.
- Norway's seasonally adjusted unemployment rate is expected to remain unchanged at 3.7 percent in September.
- USD/NOK trades 0.2 percent lower at 9.1573, having touched a high of 9.2127 on Wednesday, its highest since November 4.
- Momentum indicators are bearish on hourly charts: RSI weak at 38.61, MACD supports downside and Stochs are biased lower.
- 21-DMA is now acting as major support level, reversal in trend only on close below.
- Immediate resistance is located at 9.1974, and close above could take it till 9.2127.
- On the downside, support is around 9.1499 (21-DMA), break below could take it till 9.1417 (20-EMA)/ 9.1363.
Recommendation: Good to sell on rallies around 9.1658, with stop loss at 9.1863, and target price of 9.1363.
