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Talking Points
- Prices are bouncing from support at 157.06 (trend line from Aug, 23.6% Fib retracement)
- Breaking resistance at 159.44 (38.2% Fib expansion) exposes 160.90 (50% Fib exp.)
- A reversal below 157.06 initially eyes 155.25 (38.2% Fib retracement)
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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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