- The Norwegian Krone rose, hovering towards from a 3-1/2 week peak hit in the previous session.
- On Monday, the pair fell as low as 9.0749 but found strong support at 55-EMA.
- USD/NOK trades 0.3 percent down at 9.1155, having touched a low of 9.0749 the day before, its lowest since October 11.
- Momentum indicators are bearish: RSI weak at 48.89, Stochs are at oversold levels and MACD support downside.
- Immediate resistance is located at 9.1633 (10-DMA) and a close above could take it till 9.1749.
- On the downside, support is around 9.0903, break below could take it till 9.0749.
Recommendation: Good to sell on rallies around 9.1428, with stop loss at 9.1633 and target price of 9.0903.
