This is just a quick shout-out for NOKSEK. We will wait for a break of one of the highlighted areas first, before examining a further directional move.
The break might not happen today, or in the beginning of next week. The pair might wait until Wednesday, when the Riksbank comes out with the interest rate decision.
The chart is self-explanatory, so...
This is just a quick update
After finding good support near the 1.0845 hurdle, NOKSEK rebounded somewhat. Now we are keeping an eye on two potential breakout levels (highlighted).
If the pair breaks above the 1.0885 barrier, this could lead to a larger correction, potentially hitting the 200 EMA on the 4-hour chart.
A drop below the 1.0845 obstacle would confirm...
As we can see, the Norwegian Krone continues to outperform the Swedish Krona. The pair keeps on climbing higher, but is now finding strong resistance near 1.1020 barrier. If the rate struggles to overcome that barrier anytime soon, we may see a small retracement back down, leading NOKSEK towards the short-term tentative upside support line. But we...