Published: 2025-12-18T07:10:55.000Z
Chart EUR/NOK Update: Extending gains, but stretched
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Bullish break of resistance at the 11.8000 level and 11.8500 November highs last week has seen rally to retest resistance at the 12.0000 figure
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 12.2200 | ** | 11 Apr YTD high | S1 | 11.9000 | congestion | ||
| R3 | 12.1000 | * | congestion | S2 | 11.8500 | * | congestion, Nov high | |
| R2 | 12.0500 | * | congestion | S3 | 11.8000 | ** | congestion | |
| R1 | 12.0000 | ** | figure, congestion | S4 | 11.7500 | * | Jul low, congestion |
Asterisk denotes strength of level
07:05 GMT - Bullish break of resistance at the 11.8000 level and 11.8500 November highs last week has seen rally to retest resistance at the 12.0000 figure. Daily and weekly studies are now into overbought areas and further gains likely to struggle above here. Clearance, if seen, will see room to resistance at the 12.0500/12.1000 congestion. Meanwhile, support is raised to the 11.9000 congestion which should now underpin. Would take break here to fade the upside pressure and open up room for deeper pullback to support at 11.7500/11.7000 area.