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Canadian Dollar Technical Outlook
Wednesday, 03 December 2008 14:07:42 GMT  |  Jamie Saettele, Senior Currency Strategist
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The rally from just below 1.15 is in 5 waves and could be a truncated 5th wave. 

If so, then a correction back to at least 1.15 and possibly lower is underway now.  The drop from 1.2993 to 1.2120 is in 5 waves, which is bearish.  Price should remain below 1.2993.

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