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Jan 04

TECHNICAL ANALYSIS BY NSFX 04.01.2015

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The rate gapped down the first session of the new year and it went in oversold territory. It might test 1.18 and then 1.15, but is likely to see a rally that could test important area of the downtrend. First resistance at 1.213 then 1.2310. A breakout above the supply line that links lower highs could change the technical framework to neutral from bearish.

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