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- EUR/NOK is currently trading at 9.4451 levels.
- It made intraday high at 9.4561 and low at 9.4321 levels.
- Intraday bias remains slightly bullish for the moment.
- A sustained close below 9.4381 will test key supports at 9.4309, 9.4182, 9.4002, 9.3817 and 9.3636 levels respectively.
- On the other side, reversal from key support will take the parity higher towards key resistance around 9.4648/9.4808/9.5089/9.5277/9.5690/9.6057/9.6200/9.6326/9.6548 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 take long position on EUR/NOK only above 9.4650, stop loss at 9.4162 and target of 9.50.
