• The Norwegian Krone rebounded from a 1-week low hit earlier in the session after the government said it will spend $41 billion of its sovereign wealth fund to cushion the economy.
   
• On Monday, the pair fell to an over 1-month low below major support 55-EMA but retraced to close 0.9 percent up at 10.2891
   
• The Norwegian currency also strengthened after data showed the country's gross domestic product expanded 1.10 percent in the first quarter of 2020 over the same quarter of the previous year.
   
• Moreover, weakness in the greenback further supported the bid tone around the Norwegian Krone. 
   
• USD/NOK trades 0.9 percent down at 10.1899, having touched a low of 10.1606 on Monday, its lowest April 9. 
   
• Immediate resistance is located at 10.3918 (21-DMA), close above could take it till 10.4651.
   
• On the downside, support is around 10.1799 (55-DMA), break below could take it till 10.1298.