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1 Mar 2013
Forex: EUR/NOK hovering over 7.5000 after PMI in Norway
The Norwegian krone is losing ground vs. the European currency on Friday, after the manufacturing PMI of the Nordic economy contracted to 48.3 during February, returning below the 50 threshold.
At the moment, the cross is up 0.22% at 7.5087 with the next resistance at 7.5254 (high Jul.9 2012) followed by 7.5313 (high Jul.6) and then 7.5660 (high Jun.28).
On the downside, a break below 7.4397 (MA14d) would clear the way to 7.4350 (low Feb.26) and then 7.4295 (MA30d).
At the moment, the cross is up 0.22% at 7.5087 with the next resistance at 7.5254 (high Jul.9 2012) followed by 7.5313 (high Jul.6) and then 7.5660 (high Jun.28).
On the downside, a break below 7.4397 (MA14d) would clear the way to 7.4350 (low Feb.26) and then 7.4295 (MA30d).