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Talking Points
- Bounce from 1.5482 (38.2% Fib, trend lines from Dec’12 Jul’13) exposed 1.5571 (23.6% Fib)
- Daily close above 1.5571 targets 1.5720, the June closing high and a possible double top
- Reversal below support aims for 1.5409, the 50% Fib retracement
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
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