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Talking Points

• Prices turned lower as expected after putting in a Bearish Engulfing candle pattern

• A break of support is in the 0.9517-22 (Sep top, 50% Fib) has exposed 0.9461 (61.8% Fib)

• Below support eyes 0.9392 (76.4% Fib); back above 0.9522 targets 0.9573 (38.2% 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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