Published: 2025-07-03T07:50:36.000Z
Chart NOK/SEK Update: Extend corrective bounce from .9325 support
Technical Analyst
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Turned up from the strong support at .9325 to retrace losses from .9680, June high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .9645 | ** | Mar high, 61.8% | S1 | .9400 | * | congestion | |
| R3 | .9680 | ** | Jun high | S2 | .9325 | ** | 16 Apr high | |
| R2 | .9550/00 | * | congestion | S3 | .9280 | * | Mar low | |
| R1 | .9500 | * | 2024 year low | S4 | .9235 | 5 May low |
Asterisk denotes strength of level
07:45 GMT - Turned up from the strong support at .9325 to retrace losses from .9680, June high. Daily studies are unwinding oversold readings with gains seen correcting losses from the latter towards the .9500 level. Clearance here will open up room for stronger bounce to the .9550/.9600 congestion area. Correction expected to give way to renewed selling pressure later. Meanwhile, support is at the .9400 level and below this will expose strong support at the .9325 and the March low at .9280 to retest. Below these will return focus to the .9100 congestion and .9065, April YTD low.