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May 16

TECHNICAL ANALYSIS BY NSFX 16.05.2014

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The pair yesterday closed off its intraday low after it tested the 200SMA. Likely a pullback of the broken bullish trendline generated on August 2013.  A short term rally will gain momentum above 1.3824 and above it might will test 1.3967.  If the rate should fall below its 200SMA is likely a test of the demand line that links higher lows from the July 2012 bottom.

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