FxWirePro: Norwegian krone falls against major peers as Norway’s CPI, core CPI data fail to meet expectations

• EUR/NOK is currently trading at 8.9153 levels.
   
• It made intraday high at 8.9221 and low at 8.8733 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 8.8686 marks.
   
• A sustained close below 8.8875 will test key supports at 8.8733, 8.8686, 8.8525 and 8.8355 marks respectively.
   
• On the other side, reversal from key support will take the parity higher towards key resistance around 8.9260, 8.9589 and 8.9672 marks respectively.
   
• Norway's January PPI 12.6 pct yr/yr.
   
• Norway's January core CPI 2.1 pct yr/yr - (poll 2.6 pct).
   
• Norway's January CPI 2.8pct yr/yr - (poll 3.0 pct).
   
• Norway's January core CPI -0.5 pct m/m - (poll 0.1 pct).
   
• Norway's January CPI -0.1 pct m/m - (poll 0.2 pct).

We prefer to go long on EUR/NOK around 8.9080 with stop loss at 8.90 and target of 8.9260/8.9348.