- The Norwegian Krone consolidated near an all-time peak hit in the previous session ahead of domestic inflation and household consumption data due tomorrow.
- On Tuesday, the pair rallied as high as 9.1792 but trimmed gains to close at 9.1590, 0.25 percent up on the day.
- USD/NOK trades flat at 9.1560, having touched a record high of 9.1792 the day before.
- Momentum indicators are bullish - RSI strong at 65.91, MACD support upside and Stochs are biased higher.
- Immediate resistance is located at 9.1920 and a close above could take it till 9.2041.
- On the downside, support is around 9.1168 (7-EMA), break below could take it till 9.1039 (10-DMA).
Recommendation: Good to buy on dips around 9.1615, with stop loss at 9.1262 and target price of 9.1920
