27 Feb 2015
EUR/NOK jumps to 8.5850 on data
FXStreet (Edinburgh) - The selling pressure is now mounting around the Norwegian krone, pushing EUR/NOK to the area of 8.5850.
EUR/NOK firmer post data in Norway
The cross is gathering upside momentum after the unemployment rate in the Norway ticked lower to 3.0% in February, matching estimates and down from 3.1% previous; the Unemployment Change, however, increased by 88.34K from 87.87K.
Further data showed Retail Sales contracting 0.7% inter-month during January, missing forecasts for a 0.4% gain and down from 0.2% advance.
EUR/NOK key levels
At the moment the cross is up 0.11% at 8.5851 with the next resistance at 8.6455 (high Feb.25) ahead of 8.6542 (high Feb.24) and finally 8.7792 (high Feb.12). On the downside, a break below 8.5262 (low Nov.27) would aim for 8.4030 (low Nov.24) and then8.4001 (low Nov.21).
EUR/NOK firmer post data in Norway
The cross is gathering upside momentum after the unemployment rate in the Norway ticked lower to 3.0% in February, matching estimates and down from 3.1% previous; the Unemployment Change, however, increased by 88.34K from 87.87K.
Further data showed Retail Sales contracting 0.7% inter-month during January, missing forecasts for a 0.4% gain and down from 0.2% advance.
EUR/NOK key levels
At the moment the cross is up 0.11% at 8.5851 with the next resistance at 8.6455 (high Feb.25) ahead of 8.6542 (high Feb.24) and finally 8.7792 (high Feb.12). On the downside, a break below 8.5262 (low Nov.27) would aim for 8.4030 (low Nov.24) and then8.4001 (low Nov.21).