Published: 2025-06-24T07:57:15.000Z
Chart EUR/NOK Update: Retracing April/June losses
Technical Analyst
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Extending gains from the 11.4000 level to retrace the steep April/June losses to reach 11.7050, 38.2% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 11.9015 | * | 61.8% Apr/Jun fall | S1 | 11.6000 | * | congestion | |
| R3 | 11.8000 | * | congestion, 50% | S2 | 11.5000 | * | 29 May low | |
| R2 | 11.7375 | * | 8 May high | S3 | 11.4355 | * | May low | |
| R1 | 11.7000/50 | ** | congestion, 38.2% | S4 | 11.4000 | ** | congestion |
Asterisk denotes strength of level
07:45 GMT - Extending gains from the 11.4000 level to retrace the steep April/June losses to reach 11.7050, 38.2% Fibonacci level. Consolidation here see prices unwinding overbought intraday studies but daily and weekly studies remains positive and suggest room for further gains. Higher will see room to resistance at 11.7375 then the 11.8000 congestion and 50% Fibonacci level. Gains are seen corrective and expected to give way to selling pressure later. Meanwhile, support is raised to 11.6000 which should underpin and sustain gains from 11.4000 low.