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May 16

TECHNICAL ANALYSIS BY NSFX 16.05.2014

By:

High:  Low: 

After the breakout of the resistance that links lower highs from August 2013 the rate found resistance vs. the 200 SMA and retraced sharply yesterday. The pair made more than 200 pips from the double bottom in area 0.87 and is likely that the SNB will act if  price should trade below this level.

R3
R2
R1
S1
S2
S3