EUR/NOK has risen significantly and trades comfortably above the 10.40 area. Economists at Credit Suisse expect the pair to extend its advance towards the 38.2% retracement of the 2020/22 fall at 10.8583.

EUR/NOK looks set for a further upside

“EUR/NOK has recently broken above its highs from late 2021 and May 2022 at 10.4004/10.3828 and looks set for a further upside.”

“With weekly MACD momentum also turning outright bullish, we look for strength to continue to the July 2021 high at 10.7038 and further above to the 38.2% retracement of the 2020/22 fall at 10.8583.”