Chart NOK/SEK Update: Extending gains towards parity level
Break above the .9800 level at the start of the week and the .9850 March high has seen gains to fresh year high at .9935
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.0100 | * | congestion | S1 | .9850 | * | Mar high | |
| R3 | 1.0050 | congestion | S2 | .9800 | * | congestion | ||
| R2 | 1.0000 | ** | parity | S3 | .9700 | * | congestion | |
| R1 | .9935 | ** | 23 Apr YTD high | S4 | .9680 | ** | Jun 2025 high |
Asterisk denotes strength of level
07:30 GMT - Break above the .9800 level at the start of the week and the .9850 March high has seen gains to fresh year high at .9935. Overbought daily and weekly studies caution corrective pullback to unwind overbought daily and weekly studies but further gains cannot be ruled out. Higher will see scope to target the parity level where reaction can be expected. Meanwhile, support is raised to the .9850/.9800 March high and congestion area. Would take break here to ease the upside pressure and see room for deeper pullback to the strong support at the .9700/.9680 congestion and June 2025 high.