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- The Norwegian Krone declined, hovering towards a 2-week trough as the greenback steadied against a basket of currencies.
- USD/NOK trades 0.1 percent up at 9.1897, having touched a high of 9.2265 the day before, its highest since October 30.
- Momentum indicators are bullish: RSI strong at 56.85 and Stochs are biased higher.
- Immediate resistance is located at 9.2107 and a close above could take it till 9.2245.
- On the downside, support is around 9.1579 (21-DMA), break below could take it till 9.1394 (5-DMA).
Recommendation: Good to buy on dips around 9.1790, with stop loss at 9.1690, and target price of 9.2107
