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USD/CAD in highs around 1.0390

FXstreet.com (Barcelona) - The USD keeps pushing higher on Tuesday, lifting the pair to the boundaries of 1.0390 on upbeat data from the US docket.

“Last week’s dip from the high was a minor strike against the trend but the bullish position of the trend momentum indicators led us to conclude that USD/CAD losses were likely to remain limited… We continue to look for solid support on dips (low 1.03 area) and for a push on to the 1.06 area in the weeks ahead”, commented G.Moore and S.Osborne, Strategists at TD Securities.

The pair is now advancing 0.43% at 1.0387 with the next hurdle at 1.0393 (2013 top May 23) followed by 1.0425 (high Jun.5 2012). On the downside, a breach of 1.0300 (lows May 24/27) would then target 1.0282 (MA10d) and finally 1.0251 (low May 22).

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