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USD/CAD upside capped around 1.0280

FXstreet.com (Barcelona) - After a brief respite, the USD rally seems to be picking up pace again, pushing the cross to session tops around 1.0280.

In light of BoC M.Carney’s speech later on in the European afternoon, Strategists G.Moore and S.Osborne at TD Securities commented the cross “has recovered strongly from Monday’s softness and we look for another push towards 1.03+ intraday. Bigger picture patterns still look very constructive and we look for firm support on modest dips (1.0230/50) near-term as a result. Sustained gains through 1.0300/10 this week would be positive”.

At the moment the pair is up 0.25% at 1.0267 with the next resistance at 1.0313 (high May 17) followed by 1.0315 (high Mar.8) and then 1.0343 (2013 high Mar.1).
On the downside, a dip beyond 1.0217 (low May 20) would expose 1.0181 (low May 17) and then 1.0164 (MA10d).

EUR/USD finds support around 1.2840

The shared currency found buying interest in session lows around 1.2840 on Tuesday, lifting the cross to the current area of 1.2860/65 amidst renewed USD strength...
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Research at TD Securities have noted that Canada has returned today from the long weekend with USD/CAD little changed overall from the levels seen prevailing last Friday.
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