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FxWirePro: USD/NOK consolidates near-record peak, intraday bias bullish

  • The Norwegian Krone slumped to a fresh record low amid pressure from global tensions and weakening oil prices.
     
  • USD/NOK trades 0.1 percent up at 9.1894, having touched a record high of 9.2107 the day before.
     
  • Momentum indicators are bullish - RSI is strong at 63.87, MACD supports upside and Stochs are at overbought levels.
     
  • Immediate resistance is located at 9.2195 and a close above could take it till 9.2480.
     
  • On the downside, support is around 9.1428, break below could take it till 9.1079.

Recommendation: Good to buy on dips around 9.1815, with stop loss at 9.1615 and target price of 9.2195. 

By Lactus Fernandes
  • Market Data
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