USD/CAD returns to the 1.3400 area

USD/CAD managed to take back early losses and is back trading around the 1.34 mark, extending its consolidative phase as main focus turns to US presidential elections.

USD/CAD dropped to a low 1.3313 at the weekly opening but the greenback managed to recover amid news that the FBI was once again ending its investigation into Clinton's emails. USD/CAD climbed to a daily high of 1.3417 and finally stabilized just below 1.3400.

There are no economic releases scheduled for the American session, and with investors’ focus posing solely on US presidential elections.

USD/CAD levels to watch

At time of writing, USD/CAD is trading at 1.3392, little changed on the day. Immediate resistances are seen at 1.3433 (Oct 28 high), 1.3465 (Nov 4 high)  and 1.3498/1.3500 (Mar 2 high/psychological level). On the flip side, supports could be found at 1.3314 (Nov 7 low), 1.3300 (psychological level) and 1.3276 (Oct 25 low).