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- EUR/NOK is currently trading at 9.1712 levels.
- It made intraday high at 9.1724 and low at 9.1374 levels.
- Intraday bias remains bullish till the time pair holds key support at 9.1293 mark.
- A sustained break below 9.1518 key support targets next level at 9.1293, 9.0856 and 9.0671 levels.
- On the other side, reversal from key support will take the parity higher towards key resistances around 9.1956/9.2345/9.2630/9.2878/9.3491 marks.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- NHO cuts forecast for Norway 2017 mainland GDP growth to 1.9 pct from 2.1 pct, maintains 2018 forecast at 2.0 pct.
We prefer to go long on EUR/NOK around 9.1680 with stop loss at 9.1293 and target of 9.2168.
