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Jan 14

TECHNICAL ANALYSIS BY NSFX 14.01.2014

By:admin

High:  Low: 

The pair has had a decent bull run in H2 of 2013 and managed to print a 2014 high just above the 1.66-figure, where offers have kicked in. The pair has attempted to push higher once again, but the recent up-moves have not been convincing. Yesterday, we saw a bearish engulfing pattern, which could add pressure to the downside – the 50-day SMA at 1.6367 is in play, where a break would open up for a test of the 100-day SMA at 1.6200.

R3
R2
R1
S1
S2
S3