Published: 2025-07-24T07:57:08.000Z
Chart EUR/NOK Update: Lower in consolidation
Technical Analyst
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Turned lower in consolidation from below the 12.0000 figure as daily studies unwind overbought readings
| 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
07:50 GMT - Turned lower in consolidation from below the 12.0000 figure as daily studies unwind overbought readings. Bearish divergence on daily chart suggest room for pullback to retest the 11.8000 level and 11.7500 support. Break of these will open up room for deeper pullback to retrace the June/July rally to the 11.7000 congestion and 11.6900, 50% Fibonacci level. Meanwhile, remains at the 11.9000 congestion which is expected to cap. Clearance will expose the 12.0000 figure to retest and see room ti 12.0200, 76.4% Fibonacci level.