USD/CAD retreats from highs, around 1.3550

The upside pressure around the greenback seems to have ebbed a tad today, with USD/CAD now returning to the mid-1.3500s.

USD/CAD attention to Fedspeak

Despite the ongoing knee-jerk from multi-month tops near 1.3600 the figure, the pair keeps its buoyant tone intact for the fifth consecutive week so far, always backed by the solid performance of the buck, especially after D.Trump’s win.

In the meantime, CAD continues to derive extra weakness from the ongoing rout in crude oil prices, with the barrel of West Texas Intermediate falling to 3-month lows in sub-$43.00 levels.

Later in the NA session, speeches by Dallas Fed R.Kaplan (2017 voter, neutral), Richmond Fed J.Lacker (2018 voter, hawkish) and San Francisco Fed J.Williams (2018 voter, neutral) are expected to keep the focus on USD.

USD/CAD significant levels

As of writing the pair is advancing 0.04% at 1.3546 facing the next up barrier at 1.3588 (high Nov.14) ahead of 1.3839 (61.8% Fibo of the 2016 drop). On the other hand, a breach of 1.3506 (low Nov.14) would open the door to 1.3382 (20-day sma) and then 1.3311 (38.2% Fibo of the 2016 drop).

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