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Aug 09

TECHNICAL ANALYSIS BY NSFX 09.08.2013

By:Nati

High:  Low: 

From the low earlier this month we see a bullish retracement although if this continues expect some resistance at the trend-line on the chart in the 0.9190 area before a possible test of the 50 day SMA/23.6% Fibonacci at 0.9250. A close above the 0.9350 area would be needed to signal a possible reversal of the downtrend we've seen since April. Should sellers reenter the market support at 08873 is marked on the chart, a level of interest not seen since 2010.

R3
R2
R1
S1
S2
S3