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- EUR/NOK is currently trading at 9.1322 levels.
- It made intraday high at 9.1334 and low at 9.0729 levels.
- Intraday bias remains neutral till the time pair holds key support at 9.0950 marks.
- A sustained close below 9.0950 will test key supports at 9.0760, 9.0650, 9.0382, 9.0285, 8.9960, 8.9701, 8.9556, 8.9375, 8.9227 and 8.9011 marks respectively.
- On the other side, a consistent close above 9.0950 will take the parity higher towards key resistances at 9.1334/9.1463/9.1685/9.2023 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 go short on EUR/NOK around 9.1320 with stop loss at 9.1685 target of 9.0760/9.0650/9.0382.
