EUR/NOK rejected at key multiyear resistance – Société Générale

Source Fxstreet

EUR/NOK is retreating after a failed breakout above 12.05, with focus shifting to support near the 50-DMA and downside targets at 11.60 and 11.45, Société Générale's FX analysts note.

Gradual pullback tests 50-Day Moving Average

"EUR/NOK failed to establish itself beyond multiyear graphical hurdle of 12.05 highlighting a lack of steady upward momentum. The pair has experienced a gradual pullback recently and is challenging the 50-DMA."

"A brief bounce is not ruled out however last week high of 11.88 could provide resistance. Failure to cross 11.88 can result in continuation of decline. Next objectives could be located at projections of 11.60 and 11.47/11.45."


Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Analyst Says Cycle Is Not Finished Amid 2 Years Of Bitcoin Sideways MovementBitcoin (BTC) is now 195 days into its latest sideways movement, which is part of a broader two-year stretch marked by sluggish price action and short-lived rallies. According to a crypto analyst,
Author  NewsBTC
18 hours ago
Bitcoin (BTC) is now 195 days into its latest sideways movement, which is part of a broader two-year stretch marked by sluggish price action and short-lived rallies. According to a crypto analyst,
placeholder
US Dollar Index edges lower below 97.00 on downbeat US job data, Fed rate cut betsThe US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 96.70 during the early Asian session on Thursday.
Author  FXStreet
18 hours ago
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, remains on the defensive near 96.70 during the early Asian session on Thursday.
placeholder
Bitcoin Holds Steady Above $107K As US Senate Clears $4.5T Spending BillBitcoin held its ground as US President Donald Trump’s “One Big Beautiful Bill” passed the Senate late Monday narrowly by 51–50 votes. Related Reading: Insane Or Insightful? VC
Author  NewsBTC
18 hours ago
Bitcoin held its ground as US President Donald Trump’s “One Big Beautiful Bill” passed the Senate late Monday narrowly by 51–50 votes. Related Reading: Insane Or Insightful? VC
placeholder
This Altcoin Looks Like PEPE Before It Exploded, Analyst SaysA cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
Author  NewsBTC
18 hours ago
A cryptocurrency analyst has pointed out how Pudgy Penguins (PENGU) is starting to look similar to Pepe (PEPE) did before its explosion. Pudgy Penguins May Be Following A Similar Path As PEPE In a
placeholder
Bitcoin Price Surges Toward $110K — Will It Finally Stick the Landing?Bitcoin price started a fresh increase from the $105,200 zone. BTC is now consolidating and might struggle to continue higher above the $110,000 resistance. Bitcoin started a fresh increase above the
Author  NewsBTC
18 hours ago
Bitcoin price started a fresh increase from the $105,200 zone. BTC is now consolidating and might struggle to continue higher above the $110,000 resistance. Bitcoin started a fresh increase above the
Related Instrument
goTop
quote