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Forex: USD/CAD sidelined around 1.0120

FXstreet.com (Barcelona) - The upside in the US dollar seems to be taking a breather on Friday, as the cross is flat-lining around 1.0120.

“The rebound has strongly bullish implications as the rally formed a key reversal day… We think the correction lower in funds has run its course now. Gains through 1.0130/40 short-term resistance should propel USD/CAD back towards the mid/upper 1.02 area…We remain longer-term USD/CAD bulls”, recommended G.Moore and S.Osborne, FX Strategists at TD Securities.

The pair is now advancing 0.52% at 1.0120 facing the next hurdle at 1.0132 (high May 3) and then 1.0155 (MA21d).
On the flip side, a breakdown of 1.0064 (low May 10) would clear the way to 1.0014 (low May 9) and finally 0.9995 (high Feb.5).

Forex: EUR/USD rebounds to 1.2960/65

After dipping to levels last seen in early April around 1.2930, the single currency is attempting a tepid bounce to the current 1.2960/65 region, although the context remains absolutely tilted to the risk aversion....
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Forex Flash: EUR/USD might be weighed by economic divergences - Commerzbank

EUR/USD is currently trading in a range of approx. 1.30-1.32, says Thu Lan Nguyen, analyst at Commerzbank and despite the recent EUR/USD drop, the analyst thinks there is currently no impulse in sight that could cause it to break out of this range "on a sustainable basis".
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