EURNOK could unfold an extended up move on a break past 10.68/10.71 – SocGen

EURNOK’s rebound have so far stalled near graphical levels of 10.68/10.71. A move beyond here would open up projections at 10.86 and 10.97, economists at Société Générale report.

Initial support aligns at 10.25

“Daily MACD is above its trigger and has entered positive territory denoting prevalence of upward momentum.”

“A retest of 10.68/10.71 is not ruled out. If a crossover materializes, EURNOK could unfold an extended up move towards 10.86 and projections of 10.97.” 

“First support is at 10.25.” 

See – EURNOK: Volatility will be the name of the game next year – ING