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Jul 29

TECHNICAL ANALYSIS BY NSFX 29.07.2013

By:Nati

High:  Low: 

An uptrending channel is seeing a correction towards supporting levels, the 100 day SMA on the chart offering support in the 1.027 area. A break below this level could see 1.021 tested, before a possibility of the 200 day SMA should a close below 1.021 happen to occur . However if the moving average level holds and we see some more buyers in the market, continuation of the upward trend could resume. Short term resistance could be seen around the 1.032 area, before 1.036/50 day SMA could be tested.

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