Chart NOK/SEK Update: Extending losses, focus on .9000
Break of the .9280 low see prices extending sharp losses from the .9650 March high to reach fresh low at .9115
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .9485/.9500 | ** | May/Dec 2023 year lows | S1 | .9115 | intraday low | ||
| R3 | .9450 | * | congestion | S2 | .9000 | ** | figure | |
| R2 | .9350 | * | congestion | S3 | .8890 | * | congestion | |
| R1 | .9280 | ** | Mar low | S4 | .8800 | * | congestion |
Asterisk denotes strength of level
07:50 GMT - Break of the .9280 low see prices extending sharp losses from the .9650 March high to reach fresh low at .9115. Nearby see scope to target the .9000 figure and where reaction can be expected as intraday and daily pushed deep into oversold areas. However, bounce likely to be limited with resistance at the .9280 March low expected to cap. Only above here will see room for stronger bounce to the .9350/.9450 congestion area. Close below the .9000 figure will extend the broader losses from the 2022 year high and see room to the .8800 congestion. Lower still will turn focus to the .8540, 2020 year low.