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Dec 20

TECHNICAL ANALYSIS BY NSFX 20.12.2013

By:Nati

High:  Low: 

Head and shoulders formation with a target in the 0.87 figure region, seems to be playing out with the downtrend currently expected to meet some support towards the low towards the August low towards 0.8850. Resistance approaching 0.8890 with further resistance expected toward the 0.90 figure should buyers of the AUD enter the market. Should price action fail to breach 0.8890 area we could expect retest of the lows of the past two days.

R3
R2
R1
S1
S2
S3