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14 Jan 2015
EUR/NOK falls to 5-day low
FXStreet (Córdoba) - EUR/NOK turned lower and fell sharply during the European session as the euro weakened broadly and the krone strengthened helped by oil prices bounce.
After peaking at 9.1750, EUR/NOK came under pressure and fell all the way back to the 9.0400 area before finding support and settling in a range. The 9.0000 area stands as next key support level with a break paving the way toward 8.7500 as next target. At time of writing, the pair is trading at the 9.0610 zone, recording a 0.69% loss on the day.
Both currencies are feeling the pressure of the economic conjuncture, while the NOK is being dragged by oil prices slump, the euro weakened amid speculation the ECB might launch a QE program at its next meeting on Jan 22.
After peaking at 9.1750, EUR/NOK came under pressure and fell all the way back to the 9.0400 area before finding support and settling in a range. The 9.0000 area stands as next key support level with a break paving the way toward 8.7500 as next target. At time of writing, the pair is trading at the 9.0610 zone, recording a 0.69% loss on the day.
Both currencies are feeling the pressure of the economic conjuncture, while the NOK is being dragged by oil prices slump, the euro weakened amid speculation the ECB might launch a QE program at its next meeting on Jan 22.