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Canadian Dollar Technical Outlook

Thursday, 24 July 2008 14:16:04 GMT

Written by Jamie Saettele, Technical Currency Analyst

Wave E may be complete.

The USDCAD has formed a base from the 7/15 low and a bullish bias is warranted against .9818.  This is to prepare for the breakout above 1.0378 that is expected in the coming weeks.

STRATEGY: Bullish, against .9818, target above 1.0378

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