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Canadian Dollar Technical Outlook

Tuesday, 29 July 2008 14:38:57 GMT

Written by Jamie Saettele, Currency Analyst

The USDCAD is preparing to break out from its 6 month triangle. 

This bullish break will complete a 3 wave corrective advance from .9055.  Objectives are in the 1.05-1.08 zone.  We’ll look to identify support and lessen risk as the advance matures.

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