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Talking Points
- Prices cleared the top of a four-month falling channel, hinting a critical breakout at hand
- Pushing upward above resistance at 10623 (61.8% Fib exp.) exposes 10654 (76.4% Fib)
- Support is at 10598 (50% Fib); below that aims for 10573 (38.2% Fib, channel top)
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Daily Chart – Created Using FXCM Marketscope 2.0
** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
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