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Apr 17

TECHNICAL ANALYSIS BY NSFX 17.04.2014

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The pair is testing its 21SMA and 55EMA resistance in area 141.25  and and not far it might do a pullback of the demand line generated on March 2013. If the exchange rate should fall below area 139.90 it might test its 200SMA, now  in area 137.7.  In this moment there are more bearish technical factors than bullish and only a consolidation above 145.48 could trigger long position with an intermediate time horizon.

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