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Talking Points
- Prices are consolidating above horizontal resistance-turned-support at 1.0417
- Resistance is at 1.0494 (falling trend line); above that targets 1.0540 (channel top)
- Breaking below 1.0417 initially exposes 1.0355 (channel bottom)
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for DailyFX.com
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