EUR/NOK tanking to lows in sub-9.2400

The Norwegian krone is sharply higher vs. its European peer on Wednesday, dragging EUR/NOK to fresh lows in sub-9.2400 levels

EUR/NOK lower on EUR-selling, mining survey

The renewed selling pressure around the single currency is weighing on the cross today, while NOK remains on firm note following the Q3 Survey on investment estimates in the Nordic economy.

According to the Survey, estimates for investments in oil & gas, mining & quarrying, manufacturing and electricity supply are now seen at NOK 217 billion, 12.3% lower than Q3 2015, while estimates for 2017 are expected at NOK 197.6 billion, 14.5% lower than Q3 2016.

EUR/NOK significant levels

As of writing the cross is retreating 0.48% at 9.2424 facing the next support at 9.1924 (low Jun.8) followed by 9.1461 (low Apr.20) and then 9.0832 (low Dec.9 2015). On the other hand, a break above 9.3353 (high Aug.22) would open the door to 9.4035 (200-day sma) and finally 9.5193 (high Jul.29).