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Scandies are extending losses

FOREX
  • EURSEK, EURNOK, USDSEK, USDNOK are again moving in sync, with the Scandies testing session lows versus the EUR and the Dollar, but NOK outperforms the SEK now YTD.
  • EURSEK is now clearing the April high and its highest print since November.
  • Further out sees 11.6756.
  • USDSEK targets 10.9800 (8th November high).
  • EURNOK is making an attempt at Yesterday's high, but better resistance will be seen 11.7000.
  • USDNOK trades at its highest level since December and targets the December double top of 11.0200.

Chart source: MNI/Bloomberg.

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