FxWirePro: USD/NOK off 1-month low, ahead of Norges Bank policy decision

• The Norwegian Krone eased after rising to multi-week peaks in the previous session as investors await Norway's Central Bank decision
   
• The Norges Bank held its benchmark interest rate at 1.25 percent during its August meeting, following a 25bps hike in June. 
   
• USD/NOK trades 0.6 percent up at 8.9675, having touched a low of 8.9118 on Tuesday, its lowest since August 14.
   
• Momentum indicators are turning bullish - RSI strong at 51.91, and Stochs have rolled over from oversold levels. 
   
• Immediate resistance is around 9.0063 (August 26 High) and any violation above could take it till 9.0485 (August 28 High).
   
• On the downside, support is located at 8.8878 (August 7 Low) and break below could take it till 8.8490 (August 9 Low). 

Recommendation: Good to buy on dips around 8.9219, with stop loss at 8.9122 and target price of 9.0063