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Sep 27

TECHNICAL ANALYSIS BY NSFX 27.09.2013

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Cable is close to reach the short term resistance at 1.6158 and if pass that level then area 1.63 would be an important test because is more than 2 years that the pair is trading below this level.   A trading range between 1.6158 and 1.6 is also likely and if the cross rate should fall below 1.6 the 21SMA will act as a dynamic buy point because the trend is bullish.

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