EUR/NOK carves interim low at 11.53 – Société Générale

EUR/NOK is consolidating between 11.53 and 11.83, showing no clear directional bias after stalling near September’s low, Société Générale’s FX analysts note.

Decline stalls amid sideways moves

“EUR/NOK has carved out an interim low near 11.53 in September. The decline has stalled however signals of an extended bounce are not yet visible. Crisscross moves around the 200-DMA highlight a lack of clear direction.”

“The pair may evolve within a range defined by limits at 11.53 and recent pivot high of 11.83. A break beyond one of these bands will be crucial for confirming a directional move.”