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Tuesday, April 30, 2013

Forex: EUR/NOK up 7.6300 after data in Norway

FXstreet.com (Barcelona) - the Norwegian krone depreciates against the common currency today Tuesday after mixed results in the Nordic economy. Indeed, the unemployment rate has fallen to 3.5 percent in the month of February, improving forecasts and the previous reading by 3.6%. Meanwhile, retail sales grew 0.2 percent in March, below the 0.5% before, though the annual contraction has come to 3.5%.

At the time of writing, the pair goes up 0.20% in 7.6308 with immediate resistance awaiting in 7.7025 (max. abr.24) followed by 7.7150 (max. ene.18) and finally 7.7209 (max. ene.13).
On the other side, of falling beyond 7.5985 (min abr.29) would clear the road to 7.5702 (50% of 7.4380-7.7024) and then 7.5695 (MA100s).

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