Published: 2025-08-07T07:40:48.000Z
Chart EUR/NOK Update: Higher within the June range
Technical Analyst
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Extend bounce from the 11.7500 support to retest resistance at the 11.9000 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 12.1000 | * | congestion | S1 | 11.8000 | * | congestion | |
| R3 | 12.0200 | * | 76.4% Apr/Jun fall | S2 | 11.7500 | ** | 27 Jun low | |
| R2 | 12.0000 | ** | congestion | S3 | 11.7000 | * | congestion | |
| R1 | 11.9000 | * | congestion | S4 | 11.6000 | * | congestion |
Asterisk denotes strength of level
07:40 GMT - Extend bounce from the 11.7500 support to retest resistance at the 11.9000 congestion. Positive daily and weekly studies suggest scope for break here to open up room for retest of the 12.0000 figure and the 12.0200, 76.4% Fibonacci level. Beyond this will see room for extension to the 12.1000 congestion. Meanwhile, support is raised to the 11.8000 congestion which extend to the June low at 11.7500. This area is expected to underpin and sustain gains from the 11.4000, June swing low.