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Talking Points

• Prices moved sharply lower to test support at 0.8338 (38.2% Fib expansion)

• A break downward exposes 0.8299 (50% Fib exp.)

• Turning back above resistance at 0.8387 (23.6% Fib) targets 0.8465 (Dec 17 high)

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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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