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EURNOK Approaches 200-day EMA

SCANDIS

EURNOK has pierced the 50-day EMA at 11.4051 and approaches the 200-day EMA at 11.4227, as the Scandis come under pressure in recent trade. EURNOK is currently 0.4% higher on the day. After the 200-day EMA, the 100-day EMA at 11.4562 is the first resistance.

  • No clear headline driving the weakness in NOK. The move to intraday lows in Brent crude will be providing some pressure, but price action is still within yesterday's range.
  • EURSEK has also moved higher alongside EURNOK, but the cross remains within yesterday's range at typing.
  • The remainder of today's regional docket is limited, leaving Scandis likely to be guided by cross-market moves.
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