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Forex: EUR/NOK in session highs above 7.5000

FXstreet.com (Barcelona) - The Norwegian krone is posting weekly lows against the single currency on Wednesday, pushing the pair to levels above the key resistance at 7.5000 after consumer prices in the Nordic economy rose 1.4% over the last twelve month in March vs. 1.0% previous.

The Core CPI rose 0.9% YoY, lower than February’s increment of 1.1%. Further data showed that producer prices printed an annual contraction of 3.4% vs. -2.8% in the previous month.

At the moment, EUR/NOK is advancing 0.49% at 7.5076 with the next hurdle at 7.5140 (high Mar.28) followed by 7.5200 (high Mar.26) and finally 7.5677 (high Mar.21).
On he downside, a violation of 7.4380 (low Apr.8) would aim for 7.4275 (low Mar.13) and then 7.4155 (low Mar.7).

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