FxWirePro: Norwegian krone rises noticeably against major peers after robust CPI data
EUR/NOK is currently trading at 9.4513 levels. It made intraday high at 9.5089 and low at 9.4439 levels. Intraday bias remains bearish for the moment. A sustained close below 9.4470 will test key supports at 9.4309, 9.41…
It made intraday high at 9.5089 and low at 9.4439 levels.
Intraday bias remains bearish for the moment.
A sustained close below 9.4470 will test key supports at 9.4309, 9.4182, 9.4002, 9.3817 and 9.3636 levels respectively.
On the other side, reversal from key support will take the parity higher towards key resistance around 9.5089/9.5277/9.5690/9.6057/9.6200/9.6326/9.6548 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
Norway Sep 2018 consumer price index mm increase to 0.6 % (forecast 0.4 %) vs previous -0.4 %.
Norway Sep 2018 core inflation mm increase to 0.5 % (forecast 0.3 %) vs previous -0.5 %.
Norway Sep 2018 producer price index yy decrease to 21.1 % vs previous 22.8 %.
Norway Sep 2018 CPI index number increase to 109.5 vs previous 108.9.
We prefer to take short position on EUR/NOK around 9.46, stop loss at 9.50 and target of 9.38.
