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• 02.08.13

High:  Low: 

The pair sees a break above the 50 day SMA and a test of the 23.6% Fibonacci level drawn from the low of September last year and the recent high this July. This area acted as resistance in late May.  A close for the week above the 50 day moving average could see the 1.036 level act as support going into next week and could see a move to 1.0406 if we see a break above the Fibo level. Rejection could see a move towards the 100 day SMA support level.