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Jul 06

TECHNICAL ANALYSIS BY NSFX 06.07.2014

By:

High:  Low: 

The pair is consolidating above 1.70 and it might test 1.72 and then 1.75. Both resistance area are level that were traded the last time during the 2008 financial crisis. In case the rate should fall below 1.7 many stop losses would be triggered and it might test the bullish trendline that links higher lows  and then the 200SMA, now at 1.6630.

R3
R2
R1
S1
S2
S3