FxWirePro: Norwegian krone trades marginally lower against euro, upside limited
EUR/NOK is currently trading at 9.4451 levels. It made intraday high at 9.4561 and low at 9.4321 levels. Intraday bias remains slightly bullish for the moment. A sustained close below 9.4381 will test key supports at 9.4…
It made intraday high at 9.4561 and low at 9.4321 levels.
Intraday bias remains slightly bullish for the moment.
A sustained close below 9.4381 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 9.4648/9.4808/9.5089/9.5277/9.5690/9.6057/9.6200/9.6326/9.6548 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on EUR/NOK only above 9.4650, stop loss at 9.4162 and target of 9.50.
