TECHNICAL ANALYSIS BY NSFX 18.12.2013
Yesterday the cross rate closed the trading session off its intraday low and now is trading just above 1.63. There is the 21SMA resistance to win before to test the 2013 high at 1.6480. If a breakout should occur then the pair could test 1.674, a level reached in 2011. In case a retracement should bring down the price the first key support is the trendline that was generated last July and below this level the pair could drop to 1.56.