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Sep 03

TECHNICAL ANALYSIS BY NSFX 03.09.2013

By:admin

High:  Low: 

A continuation of the bearish price action led the pair to a daily close below the 50-day SMA for the first time since mid July. Currently the negative mood has sent the pair for a test of the 200-day SMA at 1.3155, with next support at the 100-day SMA at 1.3135. Price action seems pretty consequent, but oversold Stochastics could imply a consolidation in the 1.3135-1.32 range.

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