- The Norwegian Krone slightly edged up after tumbling to a 5-week trough on the greenback's strength.
- USD/NOK currently trades 0.1 percent down at 8.6667, having scaled a high of 8.6960 earlier, its highest since June 20.
- Technical indicators are still bullish on the intraday charts; RSI strong at 59.25, MACD supports uptrend.
- However, Stochs are on verge of rollover from overbought levels, a minor dip till 8.6550 likely.
- Immediate resistance is around 8.7209 (June 14 High), close above could take it near 8.7594 (June 18 High).
- On the downside, 8.6549 (23.6% retracement of 8.5226 and 8.6550) is acting as next immediate support and any violation below could take it till 8.6295 (38.2% retracement) and 8.6113 (55-EMA).
Recommendation: Good to buy on dips around 8.6550, with stop loss at 8.6295 and target price of 8.7594.
