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Talking Points

• Prices are testing support at 0.8228 (38.2% Fib) afterpiercing a channel set from late Sep

• Pushing further beneath that eyes the 0.8096-0.8131 area (Jun-Aug range top, 50% Fib)

• Reversing above 0.8337-49 (channel bottom, 23.6% Fib) exposes 0.8435 (Sep 19 high)

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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