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- The Norwegian Krone retreated from an over 2-week peak, as the greenback surged against a basket of currencies.
- Last week, the pair rose to an all-time high of 9.1815 but closed lower at 9.0502.
- USD/NOK trades 0.5 percent up at 9.1180, having touched a record high of 9.1815 on Thursday.
- Momentum indicators are bullish - RSI is strong at 56.88 and Stochs indicates a bullish crossover.
- Immediate resistance is located at 9.1437 and a close above could take it till 9.1615.
- On the downside, support is around 9.0611, break below could take it till 9.0391.
Recommendation: Good to buy on dips around 9.0788, with stop loss at 9.0611 and target price of 9.1345.
