USD/CAD placed at session low around 1.3320

The USD/CAD pair traded with mild negative bias and is currently placed at session low around 1.3320-15 region amid subdued trading action on Friday. 

The pair lacked any follow through buying interest and struggled to build on previous session's sharp recovery move from the very important 200-day SMA support. With global markets closed in observance of Good Friday, absent fundamental drivers failed to provide any fresh impetus.

Meanwhile, a softer tone surrounding the US Dollar, in wake of Wednesday’s comments by the US President Trump and growing geopolitical tension seems to be the only factor weighing on the major.

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Moreover, readjustment trade, ahead of today's key US macroeconomic releases, might have also collaborated to the pair's minor retracement from 1.3335 immediate hurdle. Today's US economic docket features the release of monthly retail sales along with the latest CPI print for March and would be looked upon for fresh impetus during early NA session.

Technical levels to watch

Immediate support is pegged near the 1.3300 handle, below which the pair is likely to drift back to 1.3285 confluence support area (comprising of 50-day and 100-day SMAs). A follow through selling pressure back below this important support might continue dragging the pair towards 1.3245-40 horizontal support ahead to the 1.3220 important support (200-day SMA).

On the upside, sustained momentum above 1.3335 immediate resistance is likely to lift the pair towards 1.3380 horizontal resistance en-route 1.3400 round figure mark.