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Aug 05

TECHNICAL ANALYSIS BY NSFX 05.08.2013

By:admin

High:  Low: 

Weekly, the pair tested trend resistance from the 2013 highs at 1.3340-area, but was rejected further upside and posted a Doji on a weekly basis, meaning that the trend is not clear. Daily, the pair is still within the bull trend started in early July, but we need a break of the trend resistance for this to extend. Intra-day, the pair has congested in a fairly tight range post the NFP and this will be decisive during the morning trading, where a break of NFP-highs at 1.3293 will open up for a test of 1.3310 before a re-test of July highs at 1.3345. Downside a break of 1.3260 will give scope for a move to 1.3240 before the figure.

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