FXstreet.com (Barcelona) - The Canadian dollar is gathering pace against the greenback on Wednesday, navigating around the mid 1.0200s after hitting lows in the boundaries of 1.0280

The research team at TD Securities, commented that some warning signals showed up after yesterday marginal gains, “But the “doji” candle (stall/consolidation signal) that formed yesterday only becomes a real problem for the USD if there is a big sell off in spot today… The daily (and weekly) trend strength signals remain bullish so short-term dips should remain a buy for an eventual move to 1.0330/50, then 1.0445/50”.

At the moment USD/CAD is losing 0.11% at 1.0250 and a drop beyond 1.0204 (low Feb.25) would expose 1.0164 (MA10d) and then 1.0101 (high Jan.25).
On the upside, resistance levels line up at 1.0304 (high Feb.26) followed by 1.0342 (high Jun.29) and finally 1.0363 (high Jun.28).