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Jun 21

TECHNICAL ANALYSIS BY NSFX 21.06.2015

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EurUsd is developing a 180 pips short term trading range. Above the 5 month high 1.1464 the rate will face at the same level the 200SMA as well. The most relevant resistance will be the long term dynamic supply line that links lower highs generated on May 2014 when the pair was trading at 1.4, that now is at 1.1810. In case the rate will slide below 1.1120 is likely a test of the medium term demand line. ATR is off its 3 months high and the RSI is close to the overbought level.

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