Chart NOK/SEK Update: Limited above the .9300 level
Limited on break above the .9280/.9300 resistance as price settled back to consolidate bounce from the .9066, low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .9535 | * | Sep low | S1 | .9200 | congestion | ||
| R3 | .9485/00 | ** | May 2023 year low, congestion | S2 | .9100 | * | congestion | |
| R2 | .9400 | * | congestion | S3 | .9066 | ** | 9 Apr YTD low | |
| R1 | .9300 | * | congestion | S4 | .9000 | ** | congestion |
Asterisk denotes strength of level
07:50 GMT - Limited on break above the .9280/.9300 resistance as price settled back to consolidate bounce from the .9066, low of last week. Positive daily studies suggest room for further gains to retrace losses from the March high at .9645 to the .9400 congestion. However, gains are seen corrective and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the .9200 level level. Below here will return focus to the downside for retest of the .9100 level and .9066 low. Break will see room to the .9000 figure and extend the broader losses from the 2022 year high and see room to the .8800 congestion.