TECHNICAL ANALYSIS BY NSFX 17.02.2014
The pair had its second week of gains last week and a a close above trend resistance from the December 2013 was seen along with a consolidation above the 50- and 100-day SMAs. Weekly, the range is still defined by the range from 1.3480-1.3890 (Fibo resistances in the wave from 2011 highs to 2012 lows). On a daily basis, the pair is battling the 1.37-figure, where a close above is required for additional upside. Watch out for elevated oscillators, which could cap bids.