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May 04

TECHNICAL ANALYSIS BY NSFX 04.05.2014

By:

High:  Low: 

The rate closed off its intraday low after it tested 1.6820 static support. Now 1.70 is the first relevant resistance followed by 1.7240, a level that was traded the last time during October 2008.  A retracement to the demand line generated on November would not considered a bearish wave because the 200SMA is 200 pips below the demand line.

R3
R2
R1
S1
S2
S3