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Talking Points

• Prices bounced from support at 157.06 (trend line from Aug, 23.6% Fib ret.)

• Breaking resistance at 159.44 (38.2% Fib expansion) exposes 160.90 (50% Fib exp.)

• A reversal below 157.06 initially eyes 155.25 (38.2% Fib retracement)

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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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