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FxWirePro: EUR/NOK hits fresh 15-month low at 8.9297, consistent break below targets 9.9178

  • EUR/NOK is currently trading at 8.9517 levels.
     
  • It made intraday high at 8.9888 and low at 8.9466 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.0461 marks.
     
  • A sustained close below 8.9297 will test key supports at 9.9204, 9.9178, 8.8801 and 8.8304 levels respectively.
     
  • On the other side, reversal from key support will take the parity higher towards 9.0461/9.0780/9.1463/9.1685 marks respectively.
     
  • Norway will release core retail sales data at 0600 GMT.  

We prefer to go short on EUR/NOK around 8.94 with stop loss at 8.9725 and target of 8.9178/8.8801.

  • Market Data
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