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EUR/NOK recovers from 3-week low

FXStreet (Córdoba) - EUR/NOK bounced from a 3-week low and managed to move higher Wednesday following three consecutive days of losses.

EUR/NOK has been correcting October’s rally and stretched to a 3-week low of 8.4069 last American session before finding support and bouncing. EUR/NOK managed to climb back to 8.4838 and printed a 1-week high in recent dealings. At time of writing, the pair is trading at 8.4735, recording a 0.43% gain on the day.

EUR/NOK technical levels

As for technical levels, EUR/NOK could face immediate resistances at 8.4838 (Nov 19 high), 8.4900 (Nov 12 high) and 8.5004 (Nov 11 high). On the other hand, supports are seen at 8.4597 (200-hour SMA), 8.4244 (Nov 19 low) and 8.4069 (Nov 18 low).

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