Published: 2025-08-06T07:34:28.000Z
Chart NOK/SEK Update: Sideways in choppy trade
Technical Analyst
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Extending choppy trade above the .9350/30 congestion and July low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .9645 | ** | Mar high, 61.8% | S1 | .9400 | * | congestion | |
| R3 | .9680 | ** | Jun high | S2 | .9350/30 | ** | congestion, Jun low | |
| R2 | .9535/50 | * | 3 Jul high, congestion | S3 | .9280 | * | Mar low | |
| R1 | .9500 | * | 2024 year low | S4 | .9235 | * | May low |
Asterisk denotes strength of level
07:30 GMT - Extending choppy trade above the .9350/30 congestion and July low as prices consolidate losses from the .9680, June high. Mixed daily studies suggest further ranging action around the .9450 pivot but this is expected to give way to fresh selling pressure later. Would take break of support at the .9350/30 area to further retrace the April/June rally and open up room for retest of support at the .9280 and .9235, March/May lows. Meanwhile, resistance at the .9500 level and extendng to .9535 is expected to cap and sustain losses from the .9680, June high.