Norwegian mainland GDP for fourth quarter announced %1.9, way better than expected %1.3 and November’s GDP is revised up. The fast recovering economy may support Krone as NOKUSD is getting out of the white downtrend. The price is leaving the trend with a horizontal consolidation zone. We may see 8.40-8.70 flat movements for a while as long as these levels hold. If 8.70 broken to upside 8.96 and 200-day moving average may be targeted over time. And below 8.40 downtrend may continue.
