Eur/SekRemains weighed down for now but we continue to like the prospects for a bullish resumption over the coming days. Look for setbacks to be well supported above 8.75, while back above 8.93 will confirm outlook and accelerate gains.
Usd/SekThe market has broken back below the 200-Day SMA to suggest that more weakness could be in the cards. However, we still see this pair carving a more meaningful longer-term base and would be looking for the formation of a fresh medium-term higher low above 6.30 ahead of the next upside extension back through 7.00 over the coming weeks.
Usd/Nok The market has broken back below the 200-Day SMA to suggest that more weakness could be in the cards. However, we still see this pair carving a more meaningful longer-term base and would be looking for the formation of a fresh medium-term higher low above 5.40 ahead of the next upside extension back through 6.00 over the coming weeks.
Eur/NokSetbacks have stalled by critical support at 7.50 and the market could finally be poised for some bullish price action with daily studies now stretched. Look for a break back above 7.57 to confirm outlook and accelerate gains. Ultimately, only a weekly close below 7.45 would negate.
--- Written by Joel Kruger, Technical Currency Strategist
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