Published: 2025-03-26T08:01:55.000Z
Chart NOK/SEK Update: Room for deeper pullback from .9630/40 resistance
Technical Analyst
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Backed off from test of the strong resistance at the .9630/.9640 December low and 50% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .9750 | * | congestion | S1 | .9535 | * | Sep low | |
| R3 | .9700 | * | congestion | S2 | .9500 | ** | 2024 year low | |
| R2 | .9630/40 | ** | Dec low, 50% Nov/Mar fall | S3 | .9485 | ** | 2023 year low | |
| R1 | .9600 | * | congestion | S4 | .9450 | * | congestion |
Asterisk denotes strength of level
08:00 GMT - Backed off from test of the strong resistance at the .9630/.9640 December low and 50% Fibonacci level to sustain losses from the November high at the parity level. Pullback see support starting at .9535 September low then the critical .9500/.9485, 2024/2023 year lows. Reaction at the latter likely but consolidation here expected to give way to break to return focus to the .9280 YTD low. Break here will extend the broader losses from the 2022 year high. Meanwhile, resistance at the .9630/40 area expected to cap. Break here, if seen, will open up room for stronger corrective bounce.