- The Norwegian Krone surged, hovering towards a 1-week peak hit earlier in the week following a rise in the oil prices.
- On Wednesday, oil prices surged more than 3 percent as U.S. government data showed a large decline in domestic crude stockpiles.
- USD/NOK trades 0.2 percent lower at 9.1483, having touched a low of 9.1346 on Tuesday, its lowest since November 25.
- Momentum indicators are bearish: RSI weak at 49.42, Stoch are biased lower and MACD supports downside.
- Immediate resistance is located at 9.1815, and close above could take it till 9.1915.
- On the downside, support is around 9.1364, break below could take it till 9.1273.
Recommendation: Good to sell on dips around 9.1647, with stop loss at 9.1815 and target price of 9.1364.