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Jan 03

TECHNICAL ANALYSIS BY NSFX 03.01.2014

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High:  Low: 

Yesterday sharp drop found support on the 55EMA and today the cross rate is trading in a 25 pips range. Next test in case of a new selling wave would be the demand line that was generated on July and then the 200SMA in area 1.3348.  The pair now is off nearly 240 pips from 2013 high and a consolidation above 1.37 first and then a breakout above 1.39 will bring buyers in control again.

R3
R2
R1
S1
S2
S3