TECHNICAL ANALYSIS BY NSFX 16.08.2015
The rate rose above its short term supply line but could not make a breakout of its 200SMA and in case it will succeed the next resistance would be the key area 1.1480. At this level there is the intersection of the supply line generated last year at 1.4 with the static resistance that is working as a 5 month high. In case EurUsd should trade above this area the long term trend should turn positive and the rate might test 1.2 in the short term. If the pair will retrace below the medium term demand line generated last March it might test its mulityear low at 1.0455 and beneath it the parity.