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- The Norwegian Krone rallied to a 3-1/2 week peak as the greenback eased on Fed's dovish stance.
- USD/NOK trades 0.2 percent lower at 9.0927, having touched a low of 9.0910 earlier, its lowest since November 18.
- Momentum indicators are bearish: RSI weak at 42.97, MACD supports downside and Stoch are biased lower.
- Immediate resistance is located at 9.1234, and close above could take it till 9.1377 (5-DMA).
- On the downside, support is around 9.0835, break below could take it till 9.0749.
Recommendation: Good to sell on rallies around 9.1116, with stop loss at 9.1234 and target price of 9.0835.
