- The Norwegian Krone tumbled to a near 3-week low, hovering towards a record low of 9.1648 hit earlier in the month.
- USD/NOK trades 0.5 percent up at 9.1020, having touched a high of 9.1160 earlier, its highest since September 3.
- Momentum indicators are bullish - RSI strong at 64.78 and Stochs are biased higher.
- Immediate resistance is located at 9.1304 (August 30 High) and close above could take it till 9.1648 (September 3 High).
- On the downside, support is around 8.9998 (21-DMA), break below could take it till 8.9365 (September 11 Low).
Recommendation: Good to buy on dips around 9.0700, with stop loss at 9.0348 and target price of 9.1304
