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USD/CAD challenging highs around 1.0340/45

FXstreet.com (Barcelona) - The USD is sharply advancing against its neighbour on Wednesday, challenging year highs around 1.0340 on a hawkish version of Chief Bernanke.

The upside in the greenback gathered traction after Bernanke did not rule out the likeliness of tapering the current QE programme in the upcoming meetings.
Adding to the bull run in the pair, Canadian retail sales disappointed investors in March, with the headline coming in flat and the ex-auto print contracting 0.2%, both readings missing the median.

At the moment the pair is up 0.37% at 1.0304 and a surpass of 1.0321 (high May 21) would open the door to 1.0343 (2013 high Mar.1) and finally 1.0363 (high Jun.28 2012).
On the flip side, support levels align at 10237 (low May 21) followed by 1.0217 (low May 20) and then 1.0189 (MA10d).

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