TECHNICAL ANALYSIS BY NSFX 19.12.2013
The pair yesterday reached a new 2013 high then retraced and closed at the middle of its daily range. 2 dynamic supports are on the same level: the 55EMA and the demand line in area 1.6186. Below this level many stop losses would be triggered and if the speed of USD appreciation should increase area 1.57 is a medium time horizon target. Probably only a consolidated breakout above 1.65 could lift price to 1.665 and then 1.72.