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Talking Points

• Prices broke above resistance at 1.6259 (range top set from Oct 1 high)

• Major resistance in the 1.6309-56 area (Sep’12 & Jan’13 tops, trend line) is now ahead

• Breaking upward eyes 1.6406 (38.2% Fib); back below 1.6259 exposes 1.6131

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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