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Canadian Dollar Technical Outlook

Thursday, 31 July 2008 14:01:49 GMT

Written by Jamie Saettele, Senior Currency Strategist

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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