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Forex: EUR/NOK around 7.5000

FXstreet.com (Barcelona) - The Norwegian krone is losing ground against the single currency on Monday despite the trade surplus in the Nordic economy widened to NOK 37.7 billion during March vs. February’s NOK 33.7 billion.

There are no further data or results in Norway, while the most relevant event in the region will be the Riksbank monetary policy meeting due on Wednesday.

At the moment, the pair is up 0.06% at 7.5012 with the next hurdle at 7.5220 (high Apr.10) ahead of 7.5245 (61.8% Fibo 7.5780-7.4380) and finally 7.5677 (high Mar.21).
On the flip side, a violation of 7.4380 (low Apr.8) would expose 7.4275 (low Mar.13) and then 7.4155 (low Mar.7).

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