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Jul 25

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