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The Daily NOK/SEK daily chart shows an exhaustion pattern below the 61.80 Fibonacci retracement level. The last candlesticks showed multiple failed breakout attempts and numerous bullish wicks spiked into the resistance without being able to close higher.

The wedge pattern on the 4H chart is already broken and the price is currently pushing into the last swing low.

The NOK/SEK is highly correlated to Crude Oil prices.

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