FXMarketAlerts Team
FXMarketAlerts
Published at 09:01 (GMT) 18 Jun
EUR/NOK is still pushing higher in the aftermath of the Norges bank rate cut, even though all and sundry were expecting this. The initial spike from circa 8.6500-6600 levels took us up to 8.7450-7500, but we have since gone on to hit fresh highs through 8.8000. 8.8700 looks to be a pretty tough level from here, having stalled here on 3 days in succession on 5, 8 and 9 Jun. It looks a little more interesting in NOK/SEK though, where the cross rate is now eyeing a move on last week's base at 1.0435-40. 1.0340-45 is next key support after that, but support holding for now.
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