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Canadian Dollar Technical Outlook

Thursday, 02 July 2009 14:10:35 GMT | Jamie Saettele, Senior Currency Strategist

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Fibonacci support is not until the 1.1100-1.1200 zone in the USDCAD (50%-61.8% retracement of rally from 1.0782) but the decline from 1.1660 has met initial structural support from the base of the triangle of one less degree. Staying beneath 1.1660 favors bearish continuation towards mentioned Fibonacci support.

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