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Aug 22

TECHNICAL ANALYSIS BY NSFX 22.08.2013

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The release of the FOMC  minute gave strenghtness to the dollar. It was the catalyst for push away the pair from the static resistance in 1.3420 area. Next support area 1.33  then the greenback could change speed if the 200 daily SMA will be broken. Below that level very likely to see an increase of volatility and is a no nonsense scenario given the low ATR value.  Only above 1.3420  price can try to reach again 2013 top at 1.3710

R3
R2
R1
S1
S2
S3