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Jan 22

TECHNICAL ANALYSIS BY NSFX 22.01.2014

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High:  Low: 

The cross rate yesterday reached a new 2014 high and then retraced, and the spike can be seen easily. Today is trading in a 20 pips range and if it should retrace it might test the 21SMA in area 1.0872 and then the multiple static top at 1.0727. If the trend will continue to be bullish above 1.1 the pair has to test  1.1340, a price traded in 2009.

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