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Norwegian krone turns positive after favourable job data report

EUR/NOK is currently trading at 9.5110 levels. It made intraday high at 9.5199 and low at 9.4946 levels. Norway's unemployment rate remains unchanged at 3.3% but unemployment change falls to 101.01K from 101.26K. In addi…

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Norwegian krone turns positive after favourable job data report
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  • EUR/NOK is currently trading at 9.5110 levels.
     
  • It made intraday high at 9.5199 and low at 9.4946 levels.
     
  • Norway's unemployment rate remains unchanged at 3.3% but unemployment change falls to 101.01K from 101.26K.
     
  • In addition, Norway released consumer confidence data with positive figures at -8.0 points m/m vs -10.1 points previous release.
     
  • Intraday bias remains bearish till the time pair holds key resistance level at 9.5707.
     
  • Alternatively, s daily close above 9.6185 will turn the bias bullish again.

We prefer to take short position in EUR/NOK around 9.5150, stop loss 9.5348 and target 9.48 levels.

 

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