/ 

Jul 17

TECHNICAL ANALYSIS BY NSFX 17.07.2013

By:admin

High:  Low: 

The pair broke free of the cluster of SMAs yesterday, but did not manage to take out the 38.2% Fibo retracement at 1.3161 in the recent wave. ATR is increasing - currently above 100 vs. around 75 in the beginning of the year - even though July traditionally is a period of low volatility. A break of the 1.3160-level would open up for a test of 1.32 and then 1.3240. Downside, we see the 200-day SMA as nearest support before the 50- and 100-day SMAs.

R3
R2
R1
S1
S2
S3