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Aug 31

TECHNICAL ANALYSIS BY NSFX 31.08.2014

By:

High:  Low: 

After the gap down the rate made a pullback and then continued its downtrend. It might test area 1.31 then 1.29. Intermediate bearish target might be 1.276. Only a consolidation  above 1.333 could could change the scenario to neutral from negative. The 200SMA now has a negative slope and is at 1.364, 500 pips above current market level.

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