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FxWirePro: EUR/NOK stabilizes around 8.96 mark, good to buy on dips

  • EUR/NOK is currently trading at 8.9622 levels.
     
  • It made intraday high at 8.9885 and low at 8.9559 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 8.9375 marks.
     
  • A sustained close below 8.9375 will test key supports at 8.9227 and 8.9011 marks respectively.
     
  • On the other side, reversal from key support will take the parity higher towards 8.9947/9.0144/9.0320/9.0842/9.1257/9.1463/9.1685/9.2023 marks respectively.

We prefer to go long on EUR/NOK around 8.96 with stop loss at 8.9375 and target of 9.0144/9.0320.

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