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Talking Points
- Negative RSI divergence, Rising Wedge pattern warn of a reversal lower
- Breaking below 102.48 (Wedge bottom) exposes 102.18 (23.6% Fib ret.)
- Resistance is in the 103.62-73 area (Wedge top, May 22 swing high)
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
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