- The Norwegian Krone plunged, hovering towards a 3-month trough recorded earlier in the week.
- USD/NOK trades 0.7 percent higher at 9.2810, having touched a high of 9.2894 on Monday, its highest since October 29.
- Momentum indicators are bullish: RSI strong at 72.10, Stochs are at overbought levels and MACD supports upside.
- Immediate resistance is located at 9.3030, and close above could take it till 9.3052.
- On the downside, support is around 9.1884 (7-EMA), break below could take it till 9.1731 (10-DMA).
Recommendation: Good to buy on dips around 9.2191, with stop loss at 9.1884 and target price of 9.3030.
