Forex: EUR/NOK upside capped at 7.3550

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FXstreet.com (Barcelona) - The Norwegian krone lost some ground against the bloc currency on Tuesday, after the economic activity in Norway (mainland) during the third quarter rose 0.7%, slightly lower than the previous print at +0.8%. No big movements followed in the cross afterwards, as the buoyancy surrounding the euro is eclipsing the strength observed in NOK, thus netting almost no variations in EUR/NOK.

At the moment, the pair is posting marginal losses at 7.3498 or 0.01% facing the next support at 7.3398 (MA14d) followed by 7.3386 (high Nov.13) and then 7.2895 (low Nov.9).
On the other hand, a break above 7.3770 (MA30d) would aim to 7.3870 (50% 7.4846-7.2895) and then 7.4710 (high Oct.29).



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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