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Canadian Dollar Technical Outlook
Wednesday, 24 June 2009 14:21:47 GMT  |  Jamie Saettele, Senior Currency Strategist
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I wrote yesterday that “the rally from 1.0782 can be counted a number of ways but to this point there is just 3 waves up from that level.  The risk of at least a correction is high.  Initial Fibonacci support is 1.1330 and structural support extends to 1.1220.”  The USDCAD has entered the triangle price area, which is potential support.

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