FxWirePro: Norwegian krone trades marginally lower against euro, faces key resistance at 9.7685 mark
EUR/NOK is currently trading at 9.7380 levels. It made intraday high at 9.7443 and low at 9.7159 levels. Intraday bias remains slightly bullish for the moment. A sustained close below 9.7475 will test key supports at 9.7…
It made intraday high at 9.7443 and low at 9.7159 levels.
Intraday bias remains slightly bullish for the moment.
A sustained close below 9.7475 will test key supports at 9.7080, 9.6748, 9.6666, 9.6408 and 9.6210 levels respectively.
On the other side, reversal from key support will take the parity higher towards key resistance around 9.7685, 9.7828, 9.7890, 9.8042 and 9.8217 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 long position on EUR/NOK only above 9.7570, stop loss at 9.7018 and target of 9.8042.
