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Aug 12

TECHNICAL ANALYSIS BY NSFX 12.08.2013

By:admin

High:  Low: 

The pair had a solid close last week, taking out the trend resistance projected from the 2013 highs. However offers were seen at the 200-week SMA, which has led the pair lower, currently re-testing the aforementioned trend. On an intra-day chart, the pair is in a clear down-trend with first support just below the 1.33-level (50% Fibo in 1.3187-1.3400 wave) coinciding with 2nd Pivot Support.

R3
R2
R1
S1
S2
S3