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Talking Points
- Prices topped as expected, producing a Double Top at the July closing high (1.0570)
- A break of trend line support set from May and the 61.8% Fib exposes 1.0289 (76.4% Fib)
- Piercing that eyes a longer term trend line (1.0248); resistance is at the 1.0343 (61.8% Fib)
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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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