- The Norwegian Krone declined, hovering towards record lows hit in the previous session, as nervous traders stuck with the most liquid currency amid very fragile sentiment
- USD/NOK trades 0.8 percent higher at 10.3564, having touched an all-time high of 10.3995 on Monday.
- Momentum indicators are bullish: RSI strong at 80, Stochs are at overbought levels and MACD supports upside.
- Immediate resistance is located at 10.3990, and close above could take it till 10.4285.
- On the downside, support is around 10.1110 (23.6% retracement of 9.1788 and 10.3995), break below could take it till 9.9329 (38.2% retracement)
Recommendation: Good to buy on dips around 10.2881, with stop loss at 10.2406 and target price of 10.4010.
