By Julian Linden

NEW YORK (Reuters) - The Washington Capitals survived a ferocious fightback from New York to beat the Rangers 3-2 on Monday and square their Stanley Cup second round playoff series at 1-1.

The Rangers gave up two early goals but threatened to steal an improbable victory after leveling the score at 2-2 midway through the final period.

However, the Capitals, who upset defending champions Boston in a seven-game thriller to make the Eastern Conference semi-finals, regained their composure and snatched the win with a power-play goal from Alexander Ovechkin.

The Russian's goal, his third of the playoffs, left the best-of-seven series tied at 1-1 with games three and four moving from Madison Square Garden to Washington DC.

Mike Knuble and Jason Chimera got the visitors off to the perfect start with goals in the first period.

The Caps caught the home team napping when Knuble, a former Rangers winger, opened the scoring and the visitors doubled their lead when Jay Beagle beat New York goalie Henrik Lundqvist, one of the finalists for the NHL's MVP award.

Chimera was credited with the goal although television replays showed the puck came off the skate of the Rangers' Ryan McDonagh.

The Rangers pulled one back before the first intermission when Brad Richards buried the puck in the back of the net but the number one seeds were unable to score again until the third period.

New York captain Ryan Callahan tied the scores at 2-2 with a power-play goal as the Rangers peppered the Caps' goal, but the celebrations were shortlived as Ovechkin's slapshot proved decisive.

(Editing by Peter Rutherford)