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- The Norwegian Krone declined to fresh record lows earlier in the session on mixed economic data.
- Norway's general public’s domestic loan debt increased 5.0 percent year-on-year to NOK 6,052 billion at January, easing from a 5.1 percent rise in the previous month, its weakest growth rate since February 2017.
- Separate data showed the number of unemployed persons in Norway decreased to 75,150 in February from 75,670 in January of 2020.
- USD/NOK trades 0.2 percent higher at 9.4377, having touched an all-time high of 9.4823 earlier in the session.
- Momentum indicators are bullish: RSI strong at 71, MACD supports upside and Stochs are at overbought levels.
- Immediate resistance is located at 9.4883, and close above could take it till 9.4933.
- On the downside, support is around 9.3670, break below could take it till 9.3551 (5-DMA).
Recommendation: Good to buy on dips around 9.3963, with stop loss at 9.3670 and target price of 9.4883.
