Chart NOK/SEK Update: Room for a minor pullback from fresh 2026 year highs
Anticipated gains have posted a fresh year high at strong resistance around 1.0500
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0700 | ** | historic congestion | S1 | 1.0350 | * | break level | |
| R3 | 1.0655 | ** | 76.4% ret of 2022-2025 fall | S2 | 1.0200 | ** | congestion | |
| R2 | 1.0600 | * | historic congestion | S3 | 1.0100 | * | congestion | |
| R1 | 1.0500 | * | congestion, break level | S4 | 1.0000 | * | parity, congestion |
Asterisk denotes strength of level
11:30 BST - Anticipated gains have posted a fresh year high at strong resistance around 1.0500, before settling back in profit-taking to currently trade around 1.0415. Overbought daily stochastics are unwinding and the positive daily Tension Indicator is turning down, suggesting room for further losses in the coming sessions. Support is at 1.0350. However, rising weekly charts should limit any break in renewed buying interest above congestion around 1.0200.
Following cautious/corrective trade, fresh gains are looked for. A later close above 1.0500 will improve sentiment and extend gains from the 0.9065~ multi-year low of April 2025 towards historic congestion around 1.0600 and the 1.0655 Fibonacci retracement. Overbought weekly stochastics could limit any initial tests of this range in profit-taking/consolidation.