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- EUR/NOK to advance nicely towards 10.65/70 once above 10.23 – SocGen
EUR/NOK to advance nicely towards 10.65/70 once above 10.23 – SocGen
EUR/NOK is near a multimonth trend line at 10.23. Above here, the pair could enjoy further gains towards 10.40, then 10.65/70, economists at Société Générale report.
Recent low at 9.90 cushions downside
“EUR/NOK is in vicinity to the descending trend line drawn since April 2020 at 10.23. If this is overcome, an extended bounce could materialize towards 10.40 and projections of 10.65/10.70.”
“Recent low at 9.90 cushions downside.”
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