TECHNICAL ANALYSIS BY NSFX 30.12.2013
After the breakout and then the pullback of area 103.78 the pair is on its way for the 6th consecutive positive trading day. Next resistance 107 and then 110, both levels traded the last time in 2008 during the financial turmoil. In case the cross rate should retrace and trading in a profit taking environment it would be important the support in area 103.79. Below it the next test would be in area 101.5.