FxWirePro: Norwegian krone falls against euro as industrial confidence, core retail sales fail to meet expectations

• EUR/NOK is currently trading at 9.0225 levels.
   
• It made intraday high at 9.0232 and low at 8.9960 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 8.9701 marks.
   
• A sustained close below 8.9960 will test key supports at 8.9556, 8.9375, 8.9227 and 8.9011 marks respectively.
   
• On the other side, reversal from key support will take the parity higher towards key resistances at 9.0320/9.0495/9.0842/9.1257/9.1463/9.1685/9.2023 marks respectively.
   
• Norway's September goods consumption -0.3 pct m/m.
   
• Norway's s/a September retail sales volumes excluding sales of motor vehicles -0.3 pct m/m vs +0.4 pct seen in poll.
   
• Norway's s/a Industrial confidence indicator at -5 in Q3 vs revised -2 in Q2.

We prefer to go long on EUR/NOK around 9.0220 with stop loss at 8.9701 and target of 9.0320/9.0495.