Trade Alert
As we can see, the Norwegian Krone continues to outperform the Swedish Krona. The pair keeps on climbing higher, but is now finding strong resistance near 1.1020 barrier. If the rate struggles to overcome that barrier anytime soon, we may see a small retracement back down, leading NOKSEK towards the short-term tentative upside support line. But we will only consider a deeper move lower if we see a break of that line and a rate-drop below the 1.0945 zone.
Please see the chart for levels and targets.
Don't forget your stop-loss.
As we can see, the Norwegian Krone continues to outperform the Swedish Krona. The pair keeps on climbing higher, but is now finding strong resistance near 1.1020 barrier. If the rate struggles to overcome that barrier anytime soon, we may see a small retracement back down, leading NOKSEK towards the short-term tentative upside support line. But we will only consider a deeper move lower if we see a break of that line and a rate-drop below the 1.0945 zone.
Please see the chart for levels and targets.
Don't forget your stop-loss.