FxWirePro: EUR/NOK trades in narrow range, upside limited
EUR/NOK is currently trading at 9.7110 levels. It made intraday high at 9.7326 and low at 9.7085 levels. Intraday bias remains bearish for the moment. A sustained break below 9.7251 will test key supports at 9.7025, 9.68…
It made intraday high at 9.7326 and low at 9.7085 levels.
Intraday bias remains bearish for the moment.
A sustained break below 9.7251 will test key supports at 9.7025, 9.6876, 9.6647, 9.6447, 9.6395 and 9.6011 levels respectively.
On the other side, reversal from key support will take the parity higher towards key resistance around 9.7466/9.7867/9.8065/9.8438/9.8855 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. We prefer to take short position on EUR/NOK around 9.7200, stop loss at 9.7466 and target of 9.6876.
