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Aug 20

TECHNICAL ANALYSIS BY NSFX 20.08.2013

By:admin

High:  Low: 

Weekly, the pair is flirting with the 50-week SMA at 1.5626, which has capped upside in the pair since early in the year. Daily, the pair has broken free from the trend projected from 2013 highs, but there has been no clear signs of a follow-through with trading ranges dropping considerably this week so far. With overbought oscillators, we could see some consolidation with a bearish bias before another attempt on the June 2013 highs at 1.5750 is made.

R3
R2
R1
S1
S2
S3