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EUR/NOK hovers above key support at 9.3862, intraday bias remains neutral

  • Pair is currently trading at 9.3919 levels.

  • It made intraday high at 9.4018 and low at 9.3865 levels.

  • Intraday bias remains neutral till the time pair holds key support levels at 9.3862 marks.

  • A daily close below key support levels will drag the parity towards 9.16 marks.

  • Alternatively, reversal from key support levels will take the parity back above 9.50 marks.

  • Initial support levels are seen at 9.3896, 9.3862 and 9.3759 levels.

  • On the other side, key resistance levels are seen at 9.4018, 9.4440 and 9.5213 marks.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

 

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