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USD/CAD Classical 07.13

USD/CAD Classical 07.13

2010-07-13 05:07:00
Joel Kruger, Technical Strategist
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cad2

USD/CAD: The latest rally has stalled out ahead of 1.0700 for now, with the market pulling back to the 1.0300 area thus far. However, our overall outlook remains grossly constructive and we do not see additional setbacks extending much below 1.0300. Instead, we would recommend looking to buy on dips in the 1.0300’s in anticipation of the next major upside extension beyond 1.0855.  Ultimately, only a close below 1.0200 gives reason for concern.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com 
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