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- The Norwegian Krone retreated from a 1-1/2 month peak as the dust settled on upbeat balance of trade figures.
- USD/NOK trades 0.2 percent up at 9.0969, having touched a low of 9.0629 earlier, its lowest since October 11.
- Momentum indicators are bullish on hourly basis: Stochs are biased higher and MACD supports upside.
- Immediate resistance is located at 9.1152 and a close above could take it till 9.1348.
- On the downside, support is around 9.0502, break below could take it till 9.0391.
Recommendation: Good to buy on dips around 9.0809, with stop loss at 9.0618, and target price of 9.1152
