(Reuters) – Oil prices fell from eight-week highs on Tuesday, pressured by a stronger dollar and uncertainty about an economic recovery.

U.S. crude futures for April fell 38 cents to settle at $81.49 a barrel, after reaching a low of $80.16 a barrel earlier. In London, North Sea Brent crude oil futures slipped 56 cents to settle at $79.91 a barrel.  A stronger dollar makes dollar-denominated commodities, such as crude oil, more expensive for holders of other currencies.

USDCAD touched down to 1.0235 support overnight and bounced up to 1.0275 with good amount changing hands around 1.0260-65 area. With above the reasoning to limit further CAD gains, the daily oscillators suggesting the bearish momentum decreasing and a possible squeeze on its way with Slow Stochastic suggesting a buy starting from an oversold situation.  With 1.0250-55 bringing intraday support, 1.0225 should be bottom of the day to let USDCAD turning around and printing 1.0435 in short term. Worth to bear in mind the 55 Days SMAVG at 1.0470.