EUR/NOK set to race higher towards the 10.45 mark – SocGen

FXStreet Insights Team FXStreet

EUR/NOK has experienced an impressive bounce after forming a low near 9.65 in October. Economists at Société Générale believe that the pair could reach the 10.45 peak.

Holding above 9.95 is crucial to sustain the up move

“Daily MACD has entered positive territory which points towards the possibility of further upside.”

“Holding above 9.95, the 61.8% retracement from October, the pair is likely to head higher towards 10.22 and perhaps even towards the recent peak of 10.39/10.45.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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