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Aug 01

TECHNICAL ANALYSIS BY NSFX 01.08.2013

By:Nati

High:  Low: 

The pair is ranging in an upward trend channel and current support seems to be holding at the 100 day SMA, although a close below this could see a test of the 38.2% Fibonacci level at 1.0238 on the chart. The Fibonacci is drawn from the low of September last year and the recent high this July. Should the uptrend continue, resistance from February and March was between 1.0320 and 1.0340, beyond that the 50 day SMA in the 1.0360 area could prove to be an interesting level of resistance.

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