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Canadian Dollar Trades In a Tight Range

By , Sr. Technical Strategist
25 April 2006 09:16 GMT
The pair remains trapped in a range until a break of the 4/20 high at 1.1422 or the 4/24 low at 1.1338.  Consider the area bound by these two prices a sort of no man’s land.  Resistance comes in at the 4/20 high of 1.1422 with a break targeting the 4/17 high at 1.1532.  To the downside, 1.1297 remains the target / support with a break exposing the November 1991 low at 1.1189.

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25 April 2006 09:16 GMT