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- Prices rose as expected after forming a Bullish Engulfing pattern at support near 0.89
- Break of resistance in the 0.9256-95 area (range top, 23.6% Fib) has exposed 0.9509 (38.2% Fib)
- Close below 0.9256 targets former trend line resistance at 0.9046. We continue to holdlong.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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