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Talking Points

• Prices are consolidating above support at 1.0411 (23.6% Fib expansion)

• A break lower initially exposes 1.0355 (38.2% Fib exp.)

• Near-term resistance is at 1.0510, a trend line set from mid-June

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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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