Forex: EUR/NOK hovering over 7.5000 after PMI in Norway

The Norwegian krone is losing ground vs. the European currency on Friday, after the manufacturing PMI of the Nordic economy contracted to 48.3 during February, returning below the 50 threshold.

At the moment, the cross is up 0.22% at 7.5087 with the next resistance at 7.5254 (high Jul.9 2012) followed by 7.5313 (high Jul.6) and then 7.5660 (high Jun.28).
On the downside, a break below 7.4397 (MA14d) would clear the way to 7.4350 (low Feb.26) and then 7.4295 (MA30d).

Mar 1, 2013

Forex: USD/JPY testing resistance at 92.83

The USD/JPY has surged higher Friday morning, as European trading has taken the cross from negative territory up towards its first resistance at 92.83. At the time of writing, the cross is testing it trading near its session highs (92.96), having settled at 92.88/89, up a sizable +0.36% on the day.

Forex: EUR/USD testing support at 1.3037/38

An earlier upside attempt that was capped by the 1.3102 region (session high), the EUR/USD broke lower, surrendering its gains and plunging into negative territory. With the release of economic data in the EMU, the pair is being propped up by support, currently testing the area of 1.3037/38 in these moments (previously the cross fell below initial support at 1.3052).