TECHNICAL ANALYSIS BY NSFX 14.01.2014
The pair broke free of the bear trend last week and has currently found resistance at the 50-day SMA, currently at 0.9040. A break above would open up for a test of yesterday’s highs at 0.9060 before 38.2% Fibo in bear wave at 0.9177. Should the 50-day cap upside, we could see a pull-back towards 0.8960-area before 0.8920. Daily stochastics overbought, but not confirmed by MACD or RSI.