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Sep 30

TECHNICAL ANALYSIS BY NSFX 30.09.2013

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The cross rate is trading in a range 1.3465-1.3568 in the last 8 trading days and when this trading range will be broken a momentum trading environment likely occur.  The first target on the upside would be 1.3702 and then 1.3918. The most important test should be 1.40 area because is the level where the cross will meet the supply line that was generated in the summer 2007 at 1.6 level.  If the dollar should gain versus the euro then below 1.3458 support there is area 1.3417.

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