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TECHNICAL ANALYSIS BY NSFX 25.07.2013
By:admin
High: Low:
The pair was rejected at the 23.6% Fibo retracement in the recent wave which made a pause to the current uptrend. Overbought Stochastics could indicate that we will be range-trading in the 1.3160-1.3260-area with a bullish bias. We could see some consolidation before a move higher to test trend resistance from 2013 highs, currently at 1.3345. Downside – a break below the 1.3160 level would open up for a test of 1.3130 (intra-day Pivot support) and then to the support cluster around the 1.31-area.
R3 | |
R2 | |
R1 |
S1 | |
S2 | |
S3 |