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Dec 19

TECHNICAL ANALYSIS BY NSFX 19.12.2013

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High:  Low: 

The last time that the cross rate traded at 104 was in the middle of the financial turmoil that shaked markets in October 2008. The next relevant resistance is  in area 107 and above it 110. If the pair should retrace the 21SMA daily at 102.75 would be likely the first support . Below it the static support at 100.65 could be a good entry point for long positions.

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