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Sep 02

TECHNICAL ANALYSIS BY NSFX 02.09.2013

By:admin

High:  Low: 

The 200-week moving average proved significant resistance for the fourth week in a row and sellers were in majority last week sending the pair significantly lower with three bearish days in a row, down to the 50-day SMA at 1.3190, coinciding with the 61.8% Fibo retracement in the recent wave. We could expect bids coming in here pushing for a test of the 1.33-figure, but a close below 1.3190 could lead to further downside towards 1.3165 and then 1.3135.

R3
R2
R1
S1
S2
S3