FxWirePro: USD/NOK plunges to 1-week trough, major support at 20-EMA

• USD/NOK trades 0.3 percent down at 9.9980, having touched a low of 9.9881 earlier, its lowest since Aug. 27.
   
• The pair fell to an over 1-week trough but found strong support at 20-EMA 
   
• Technical indicators support downside - Stochs are biased lower and MACD supports downtrend.
   
• Immediate resistance is around 9.0552 (7-EMA) and any violation above could take it till 9.0836 (5-DMA) / 9.1304 (August 30 High).
   
• Any violation above 9.1304 could see a reversal in trend. 
   
• On the downside, support is located at 8.9686 (August 20 Low) and any break below could take it till 8.9314 (August 23 Low). 

Recommendation: Good to sell on rallies around 9.0378, with stop loss at 9.0552 and target price of 8.9686