FxWirePro: EUR/NOK hits fresh 13-month low at 9.0877 after Norges bank rate decision; stay bearish
Friday, September 23, 2016 6:37 AM UTC
- EUR/NOK is currently trading at 9.1096 levels.
- It made intraday high at 9.1179 and low at 9.1070 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 9.1475 marks.
- A sustained break below 9.0877 will test key supports at 9.0676, 9.0382 and 9.0143 levels respectively.
- On the other side, reversal from key support will take the parity higher towards 9.1475/9.1685/9.1956/9.2345/9.2630/9.2878/9.3491 marks.
- Yesterday Norway’s Central bank kept key policy rate unchanged at 0.50 percent.
We prefer to go short on EUR/NOK around 9.1120 with stop loss at 9.1475 and target of 9.0877/9.0676.