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EUR/NOK retreats from 8.3000

FXStreet (Edinburgh) - The Norwegian krone is depreciating vs. the euro on Friday, lifting EUR/NOK beyond the key handle at 0.8300.

EUR/NOK in multi-day highs

The scandi cross advanced above the 8.3000 mark after headline consumer prices in Norway gained 0.5% on a monthly basis during September, reverting the previous contraction of 0.3%. Core prices followed suit, rising at a monthly pace of 0.5% vs. -0.5% in the previous month.

EUR/NOK relevant levels

The cross is now advancing 0.55% en 8.2604 with the next resistance at 8.2750 (200-d MA) ahead of the psychological handle at 8.300. On the downside, a break below 8.1625 (low Oct.7) would expose 8.1560 (low Oct.6).

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