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Wednesday, October 11, 2006
USD/CAD: 1.1370/75 Keeping a Lid On Market
USD/CAD made a second attempt to overcome resistance at 1.1375 but has come up short again. Dealers suspect M&A-linked orders are parked at the highs, protecting small stops around 1.1380. Barriers are eyed at 1.1400 while 1.1460 is the near-term bull target. Bids are seen at 1.1345 and 1.1330 on pullbacks.
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