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Jul 05

TECHNICAL ANALYSIS BY NSFX 05.07.2015

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High:  Low: 

The pair failed to rise above 1.5817 area and then went below the 21SMA.  Next support could be 1.55. This is not just a psychological area but there are also both the 55EMA and the demand line generated last April. Below this level cable might drop to 1.5345 and then to 1.518. In case of a rally the rate might rise above the 21SMA, now at 1.57 and then test again 1.5817. Above this level the pair should test the 2015 high at 1.5955.

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