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Sep 13

TECHNICAL ANALYSIS BY NSFX 13.09.2015

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EurUsd could not rise above 1.1360, but managed to close the week above both the 21SMA and the 55EMA. A breakout and a consolidation above of the supply line, that was already violated for 3 sessions last month, could lift the rate to test 1.17. In case buyers will be in control 1.20 is the short term target. A retracement below the 200SMA, now at 1.1080, can pull the rate to test the medium term demand line, in area 1.0870. If this dynamic support will fail, EurUsd can test its 2015 low at 1.0452.

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