Published: 2025-02-18T08:25:45.000Z
Chart EUR/NOK Update: Extending pullback from 11.8250, January high
Technical Analyst
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Choppy trade leaning lower from the 21 January year high at 11.8250 to reach 11.6050 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 11.8250 | * | 21 Jan YTD high | S1 | 11.6050 | * | congestion | |
| R3 | 11.8000 | * | congestion | S2 | 11.5400 | * | 10 Feb low | |
| R2 | 11.7500 | ** | 13 Feb high | S3 | 11.5000 | ** | congestion, Nov low | |
| R1 | 11.7000 | * | congestion | S4 | 11.4500 | * | congestion |
Asterisk denotes strength of level
08:20 GMT - Choppy trade leaning lower from the 21 January year high at 11.8250 to reach 11.6050 congestion. Below this will return focus to the 11.5400 low of February then the 11.5000 support. Break of the latter will see deeper pullback to retrace the June/August rally and turn focus to then 11.4500/11.4000 congestion then the channel support from the July 2023 low at 11.3700. Meanwhile, resistance is lowered to the 11.7000 congestion which extend to the 11.7500 high of last week. This area now expected to cap and sustain the broader losses from the 11.8900, December high.