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Aug 19

TECHNICAL ANALYSIS BY NSFX 19.08.2013

By:admin

High:  Low: 

The pair has been on a mixed ride the past weeks with no real consistency – however the pair is printing lower lows and no higher highs, so we are overall in a bearish trend. Daily, the pair is still below the Ichimoku cloud and the Tenkan-Sen acts a current support. A break below would open up for a test of the 96.10-area. Upside, the 50-day SMA has provided decent resistance for the past week and we could see this continue. Should we see a move above, then the 100-day SMA along with 50% Fib oretracement in the 2013 highs to June lows at  96.85-area will act as resistance.

R3
R2
R1
S1
S2
S3