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US Dollar / Canadian Dollar 07-06

US Dollar / Canadian Dollar 07-06

2010-07-06 15:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-07-06-CAD

The larger C wave rally in the USDCAD should eventually exceed 10866. The near term pullback should find support near 10470, which is the former 4th wave extreme, former resistance, and the 38.2% retracement.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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