TECHNICAL ANALYSIS BY NSFX 28.01.2014
The pair has since mid 2013 been in a down trend and the bearish pressure still persists. The weekly graph shows a Double Top formation, which was confirmed in September, giving scope for a technical target at 0.7984. So far, the pair has found support in the wave from 2012 lows to 2013 highs at the 61.8% retracement at 0.8168, where a break below would open up for 0.8080. Intra-day, the 0.82-figure is first support before 0.8170.