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Forex: EUR/NOK in multi-month highs above 7.5000

FXstreet.com (Barcelona) - The Norwegian krone is intensifying its depreciation against the shared currency following yesterday’s dovish statement by the Norges Bank, signalling that low interest rates would remain throughout the year. The decision weakened the NOK to levels above 7.50, last seen in July 2012

In the data space, Norway’s trade surplus widened in February to NOK 33.7 billion from NOK 33.5 billion.

At the moment, the cross is up 0.28% at 7.5557 with the next resistance at 7.5660 (high Jun.28) while supports line up at 7.4387 (low Mar.14) followed by 7.4275 (low Mar.13).

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