- The Norwegian Krone retreated from a 10-day peak as the dust settled on Norges Bank interest rate decision.
- On Thursday, Norway's central bank held its benchmark interest rate at 1.5 percent, as expected, following a 25bps hike in September.
- USD/NOK trades 0.2 percent up at 9.1584, having touched a low of 9.0835 the day before, its lowest since October 14.
- Momentum indicators are bullish: RSI strong at 58.13 and Stochs are biased higher.
- Immediate resistance is located at 9.1750 and a close above could take it till 9.1967.
- On the downside, support is around 9.1162 (20-EMA), break below could take it till 9.0903.
Recommendation: Good to buy on dips around 9.1390, with stop loss at 9.1254 and target price of 9.1750.
