OSB Daily Technical Analysis for November 19, 2014

Rally and close above the 1.25 handle suggesting pair looking to move higher. Key support levels just above the 1.25 area likely to be tested with some pull back expected. If this holds market to test 1.2570-80 resistance in the short term.

Little change and slow market without much movement to either direction. Weakness remains dominant theme in this pair which is essentially at a standstill at the moment. A break below 1.56 looks like a question of time and opens new down leg with target the 1.5550 area.

Continuation of up move making a new intraday high. A clean close above 117.00 extends upswing to 117.50 with a target of the 118 handle. A break below 116.00 eases ultra bullish outlook.

Failure to make a clean break above the 20 DMA and the 1.13 handle suggests more consolidation for the pair. Trading likely to continue within a tight range between 1.1270-1.1380. A break to either side to define further direction.

Sell off found support below the 20 DMA in the 0.9575 area. Short term weakness increasing along with rising volatility. A test of 0.9550 area is likely as pair consolidates in this range.

Back and forth action with indecisiveness testing fist line of support at 0.8680 area. Pair remains in correction mode from recent upswing. A break below 0.8650 extends down leg back down to 0.8615. Buyers thinning on the ground.

NOTE

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