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Talking Points
- Prices declined as expected, completing a Rising Wedge chart formation
- Sellers are targeting support at 0.8417 (38.2% Fib); below that exposes 0.8366 (50% Fib)
- Back above 0.8481 (23.6% expansion) aims the Wedge bottom (now at 0.8523)
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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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