FxWirePro: Norwegian krone rises noticeably against major peers after robust CPI data

• EUR/NOK is currently trading at 9.4513 levels.
• It made intraday high at 9.5089 and low at 9.4439 levels.
• Intraday bias remains bearish for the moment.
• A sustained close below 9.4470 will test key supports at 9.4309, 9.4182, 9.4002, 9.3817 and 9.3636 levels respectively.
• On the other side, reversal from key support will take the parity higher towards key resistance around 9.5089/9.5277/9.5690/9.6057/9.6200/9.6326/9.6548 marks respectively.
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
• Norway Sep 2018 consumer price index mm increase to 0.6 % (forecast 0.4 %) vs previous -0.4 %.
• Norway Sep 2018 core inflation mm increase to 0.5 % (forecast 0.3 %) vs previous -0.5 %.
• Norway Sep 2018 producer price index yy decrease to 21.1 % vs previous 22.8 %.
• Norway Sep 2018 CPI index number increase to 109.5 vs previous 108.9.

We prefer to take short position on EUR/NOK around 9.46, stop loss at 9.50 and target of 9.38.