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Trading news
4 Apr 2013
Forex: EUR/NOK drops to lows after sales in Norway
FXstreet.com (Barcelona) - The Norwegian krone is extending its strong momentum against the single currency, appreciating for the second consecutive week after Retail Sales in the Nordic economy expanded at a monthly pace by 0.5%, while contracting 0.9% over the last twelve months.
Tomorrow’s docket in Norway will see the Industrial Production, Manufacturing Output and Credit Indicator.
At the moment, EUR/NOK is down 0.23% at 7.4515 with the next support at 7.4275 (low Mar.13) ahead of 7.4155 (low Mar.7) and then 7.4035 (low Mar.6).
On the flip side, a breakout of 7.4925 (MA10d) would clear the way to 7.5677 (high Mar.21) and finally 7.5780 (2013 high Mar.20).
Tomorrow’s docket in Norway will see the Industrial Production, Manufacturing Output and Credit Indicator.
At the moment, EUR/NOK is down 0.23% at 7.4515 with the next support at 7.4275 (low Mar.13) ahead of 7.4155 (low Mar.7) and then 7.4035 (low Mar.6).
On the flip side, a breakout of 7.4925 (MA10d) would clear the way to 7.5677 (high Mar.21) and finally 7.5780 (2013 high Mar.20).