Quotes from Societe Generale Cross Asset Research:
-After testing a graphical support near 0.99/0.98 last year, NOK/SEK has embarked on a rebound. A monthly hammer followed by a bullish engulfing confirms a major low has been achieved at 0.99/0.98.
-This recovery resembles to other ones since 2004 in the way that they all have typically been v-shaped which highlights sudden shift in momentum.
-The pair is now approaching a dual resistance of 1.1220 which consists of a six year descending channel and the neckline of a head and shoulder confirmed earlier. Monthly stochastic indicator is hitting a decadal trend line resistance.
