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Talking Points
- Prices put in a Bearish Engulfing candle pattern, hinting at a Double Top taking shape
- Near-term support is at 101.77 (23.6% Fib); below that eyes 100.78 (38.2% Fib)
- Negative RSI divergence bolsters the case for a downside scenario
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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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