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Oil and rate spec drive EUR/NOK above 8.70

Source: Thomson Reuters EUR/NOK rises above 8.70, oil and rate speculation the drivers With USD/NOK below recent highs an element of EUR pep too If pair closes above 8.6980 Mar 11 high, 8.7780 Feb 12 high will be next ta…

By Jay L. Zagorsky
1 min read
Oil and rate spec drive EUR/NOK above 8.70
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Source: Thomson Reuters


  • EUR/NOK rises above 8.70, oil and rate speculation the drivers 

  • With USD/NOK below recent highs an element of EUR pep too

  • If pair closes above 8.6980 Mar 11 high, 8.7780 Feb 12 high will be next target

  • Brent below the 50DMA, 55.00, and testing lower 30DMA Bollinger

  • Norges Bank up Thurs, market expects 25bp cut but backdrop could argue 50bp drop

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EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team