Published: 2025-08-27T06:32:13.000Z
Chart EUR/NOK Update: Consolidating at 11.7500 support, room for lower later
Technical Analyst
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Limited on break of support at the 11.7500 July low as prices consolidate losses from the high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 12.0200 | * | 76.4% Apr/Jun fall | S1 | 11.7500 | ** | Jul low | |
| R3 | 12.0000 | ** | congestion | S2 | 11.7000 | * | congestion | |
| R2 | 11.9000 | * | congestion | S3 | 11.6750 | 15 May high | ||
| R1 | 11.8500 | * | 12 Aug low | S4 | 11.6000 | * | congestion |
Asterisk denotes strength of level
06:30 GMT - Limited on break of support at the 11.7500 July low as prices consolidate losses from the high of last week. Consolidation here see prices unwinding the oversold intraday and daily studies but this is expected to give way to break later to extend pullback from the 12.0000 figue. Break will confirm a double top at the July/August highs and see deeper pullback to support at 11.7000 and 11.6750 congestion. Lower still, will see room to the 11.6000 level. Meanwhile, resistance is lowered to the 11.8500/11.9000 area which is expected to cap and sustain losses from the 11.9900/12.0000 area.