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Aug 20

TECHNICAL ANALYSIS BY NSFX 20.08.2013

By:admin

High:  Low: 

After closing back above the trend line projected from the 2013 on Thursday, the pair has been in a consolidating to bearish mode for the past two days. The candles are not that positive with long upper shadows and negative closes indicating that the market rejected a higher price for now.  We could see this scenario continue with a re-test of the trend line back below 1.33 in sight. On the upside, the 200-week SMA at 1.3380 provides weekly resistance before 1.34 and 1.3415.

R3
R2
R1
S1
S2
S3