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Forex: EUR/NOK drops to lows after sales in Norway

FXstreet.com (Barcelona) - The Norwegian krone is extending its strong momentum against the single currency, appreciating for the second consecutive week after Retail Sales in the Nordic economy expanded at a monthly pace by 0.5%, while contracting 0.9% over the last twelve months.

Tomorrow’s docket in Norway will see the Industrial Production, Manufacturing Output and Credit Indicator.

At the moment, EUR/NOK is down 0.23% at 7.4515 with the next support at 7.4275 (low Mar.13) ahead of 7.4155 (low Mar.7) and then 7.4035 (low Mar.6).
On the flip side, a breakout of 7.4925 (MA10d) would clear the way to 7.5677 (high Mar.21) and finally 7.5780 (2013 high Mar.20).

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