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Talking Points
- Prices recoiled from 135.50 (Oct swing top), showing a Bearish Engulfing candle pattern
- Support is now at 134.33 (14.6% Fib ret.); breaking below that eyes 133.34 (23.6% Fib)
- Resistance remains at 135.50; negative RSI divergence bolsters the bearish argument
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
Contact and follow Ilya on Twitter: @IlyaSpivak
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