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FxWirePro: Norwegian krone strengthens against euro, likely to break key support at 9.0862

  • EUR/NOK is currently trading at 9.1048 levels.
     
  • It made intraday high at 9.1276 and low at 9.0987 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 9.1473 marks.
     
  • A sustained break below 9.0900 will test key supports at 9.0862, 9.0676, 9.0382 and 9.0143 levels respectively.
     
  • On the other side, reversal from key support will take the parity higher towards 9.1475/9.1685/9.1956/9.2345/9.2630/9.2878/9.3491 marks.

We prefer to go short on EUR/NOK around 9.1050 with stop loss at 9.1275 and target of 9.0900/9.0877/9.0676.

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