TECHNICAL ANALYSIS BY NSFX 22.05.2014
Support at 101.20 an important level, tested during yesterday’s session taking out a number of stops. The next area of support expected towards February’s low at 100.75. The resistance level now expected towards 101.60 with the 102.60 area possibly a ceiling to a range before a breakout can occur. Should bullish price action breach then the 103.30 level could offer resistance going forward.