- The Norwegian Krone declined, hovering towards a near 1-week low.
- USD/NOK trades 0.2 percent higher at 8.9033, having touched a high of 8.9067 earlier, its highest since January 13.
- Momentum indicators are bullish: RSI point north, Stochs are biased higher and MACD supports upside.
- 200-DMA is acting as minor support.
- Immediate resistance is located at 8.9173, and close above could take it till 8.9289.
- On the downside, support is around 8.8680, break below could take it till 8.8604 (10-DMA).
Recommendation: Good to buy on dips around 8.8900, with stop loss at 8.8777 and target price of 8.9173,