- The Norwegian Krone slumped to a 2-week trough as the dust settled on gross domestic product growth figures.
- USD/NOK trades 0.7 percent up at 9.2201, having touched a high of 9.2265 earlier, its highest since October 30.
- Momentum indicators are bullish: RSI strong at 59.65 and Stochs are biased higher.
- Immediate resistance is located at 9.2348 and a close above could take it till 9.2599.
- On the downside, support is around 9.1424, break below could take it till 9.1271.
Recommendation: Good to buy on dips around 9.1749, with stop loss at 9.1424, and target price of 9.2348.
By Lactus Fernandes