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Canadian Dollar Technical Outlook

Monday, 07 July 2008 15:59:01 GMT

Written by Boris Schlossberg, Senior Currency Strategist

We came tantalizing close to hitting our 1.0324 target but the pair appears to have found resistance at the 1.0250 level and will need to break through to re-challenge its recent highs.

On the flip side a failure here would open the way for retest of the range lows at 1.0050.

STRATEGY: Bullish, against .1.0047, target above 1.0324

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