Published: 2025-05-09T06:45:30.000Z
Chart EUR/NOK Update: Turned up from 11.6170, Fibonacci level
Technical Analyst
2
Steadied at 11.6170 Fibonacci level as prices unwind the oversold daily studies following steep drop from 12.2200, April YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 11.9400 | ** | 15 Apr low | S1 | 11.6750 | * | 9 Apr low | |
| R3 | 11.9000 | * | congestion | S2 | 11.6170 | * | 61.8% Apr rally | |
| R2 | 11.8350 | * | Mar high | S3 | 11.6000 | * | congestion | |
| R1 | 11.8000 | * | congestion | S4 | 11.5400 | * | Feb low |
Asterisk denotes strength of level
06:40 GMT - Steadied at 11.6170 Fibonacci level as prices unwind the oversold daily studies following steep drop from 12.2200, April YTD high. Bounce here to regain 11.7000 level see room to the 11.8000/11.8350 congestion and March high. Higher still, will see scope to 11.9000 congestion then 11.9400, the 15 April low. The latter expected to cap and meet with renewed selling pressure later. Break of the 11.6170 support and 11.6000 congestion will open up room for continuation to the 11.5400 and 11.5000, February and November lows.