|R1||1.0866||October 1 high||S1||1.0837||*||100-day moving average|
|R2||1.0876||*||September 10 high||S2||1.0800||Break level|
|R3||1.0900||Figure||S3||1.0764||*||50-day moving average|
|R4||1.0945||*||September 19 high||S4||1.0665||*||August 14 low|
Asterisk denotes strength of level
17:15 GMT - NOK/SEK has now worked a 100-day moving average breakout at 1.0837, and despite the lack of solid momentum on this break, the market has a little room to extend higher. The pair would now need a move through 1.0876 in order to help increase the odds for some momentum to take hold toward 1.0945. We assume that the dip buyers remain active as long as the 1.0837/00 support zone holds.