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Talking Points
- Prices topped as expected, producing a Double Top at the July closing high (1.0570)
- A break of a rising trend line set from Sep 2012 and the 38.2% Fib exposes 1.0120 (50% Fib)
- The 38.2% Fib (1.0236) has been recast as near-term resistance
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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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