EUR/NOK extends its downside

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EUR/NOK extends its downside

FITITOL--> FXstreet.com (Barcelona) - The Norwegian krone is advancing against the single currency on Friday, dragging the cross along the bigger bearish trend after retail sales in Norway have climbed 1.7% during May, well above April’s contraction of 0.2%.

Higher crude oil prices prices are bolstering NOK today as well, rising 1.77% just below the $80.00/bbl mark.

At the moment the pair is losing 0.15% at 7.5352, with the immediate support lying at 7.5185 (MA14d) followed by 7.4870 (low Jun.20) and 7.4700 (Lower Bollinger).
On the other hand, a break above 7.6225 (Upper Bollinger) would open the door to 7.6510 (high Jun.70 and then 7.6628 (high May 16).