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Talking Points
- Prices fell as expected after forming a Bearish Engulfing candle pattern; we remain short
- Support is at 1.3613 (38.2% Fib); breaking below that exposes 1.3552 (50% Fib)
- Resistance is at 1.3737 (trend line); above that aims for the 1.3801-31 area
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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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