Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Norwegian krone trades marginally lower against euro, faces key resistance at 9.7685 mark

  • EUR/NOK is currently trading at 9.7380 levels.
     
  • It made intraday high at 9.7443 and low at 9.7159 levels.
     
  • Intraday bias remains slightly bullish for the moment.
     
  • A sustained close below 9.7475 will test key supports at 9.7080, 9.6748, 9.6666, 9.6408 and 9.6210 levels respectively.
     
  • On the other side, reversal from key support will take the parity higher towards key resistance around 9.7685, 9.7828, 9.7890, 9.8042 and 9.8217 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position on EUR/NOK only above 9.7570, stop loss at 9.7018 and target of 9.8042.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.