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Aug 19

TECHNICAL ANALYSIS BY NSFX 19.08.2013

By:Nati

High:  Low: 

From the low earlier this month we see a bullish retracement and we are now seeing a test of the 50 day SMA. The 23.6% Fibonacci at 0.9260 could be the next area of resistance should the upward trajectory continue, and a level of possible further resistance at the 93 big figure could be seen. 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 0.8873 is marked on the chart, a level of interest not seen since 2010.

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