USD / CAD: lowest weekly closing since last 4-5 months

The pair reversed the full recovery of the cold recovery in the past few days with the tightening Fed and is on its way to the weekly close since the end of February.
Today’s slide may be due to the soft outlook around the US dollar and the modest recovery in oil prices supporting the commodity-linked CAD demand.
As oil price dynamics are a key factor in the move of the parity on the last trading day of the week, investors will try to catch clues from Baker Hughes US oil drilling number report to be announced later in the North American session.
On the data front, it is also expected that US Federal Reserve Chairman R. Kaplan’s speech and June Reuters / Michigan index data are expected, along with new housing starts and construction permits data.
The USD / CAD pair is currently trading at 1.3231 with a 0.29% loss.
Significant technical levels for USD / CAD
1.3210, 1.3200 (psychological level) and 1.3165 levels of support can create resistance for the parity level 1.3200, 1.3270 and 1.3300 (psychological level).