FxWirePro: USD/NOK retreats from record peak, struggles to sustain gains above 9.4000

• The Norwegian Krone nudged higher, retreating from record lows hit earlier in the session following mixed economic data.
   
• Norway's retail sales increased 0.50 percent in January over the previous month, while on an annualized basis it decreased 1.70 percent in January. 
   
• USD/NOK trades 0.2 percent lower at 9.3805, having touched an all-time high of 9.4126 earlier in the session. 
   
• Momentum indicators are bullish: RSI strong at 67, MACD supports upside and Stochs are at overbought levels.
   
• Immediate resistance is located at 9.4167, and close above could take it till 9.4205.
   
• On the downside, support is around 9.3558, break below could take it till 9.3403 (5-DMA). 

Recommendation: Good to sell on rallies around 9.3935, with stop loss at 9.4033 and target price of 9.3558.