TECHNICAL ANALYSIS BY NSFX 06.01.2014
The pair retraced to test the demand line that started in July. There is a coincidence of timing with the EurUsd pair: both cross rates retraced at the same time on trendlines genererated on the same period. In case the price should rise 1.648 would be the first test before the 2013 high at 1.66. If the dynamic support will be broken then 1.6245 could be the first significant support. The 200SMA would be a good target in case of a correction: it is just above the 50% Fibo retracement.