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19 May 2015
NOK/SEK door open for a test of 1.1450/1.15 – TDS
FXStreet (Edinburgh) - In the opinion of strategists at TD Securities, the Nordic cross could be headed towards the 1.1450/1.15.
Key Quotes
“NOKSEK has performed better than we expected after the earlier rejections of 1.12+ levels which, we thought, might lead to a renewed push lower”.
“Instead, the NOK has retained a firm undertone, supported by bullishly-aligned (short-term) trend momentum oscillators make a run above 1.1205 resistance”.
“It’s hard to say the move has been convincing thus far but the NOK may well close the week out just above what has been strong resistance and the risk seems tilted towards more strength from here—potentially towards 1.1450/1.15”.
Key Quotes
“NOKSEK has performed better than we expected after the earlier rejections of 1.12+ levels which, we thought, might lead to a renewed push lower”.
“Instead, the NOK has retained a firm undertone, supported by bullishly-aligned (short-term) trend momentum oscillators make a run above 1.1205 resistance”.
“It’s hard to say the move has been convincing thus far but the NOK may well close the week out just above what has been strong resistance and the risk seems tilted towards more strength from here—potentially towards 1.1450/1.15”.