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Nov 05

TECHNICAL ANALYSIS BY NSFX 05.11.2013

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High:  Low: 

The cross rate yesterday rebounded from the 55EMA and today is in a narrow trading range. The first resistance area is at 1.6. Then the 21SMA would act as a resistance, the double top in area 1.6258 is the 2013 high that if broken could bring new buyers in the market.  If the dynamic support in area 1.59  should fail to be valid  selling pressure could increase to test 1.5751 first and in a medium time horizon 1.56 .

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R1
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