USD/CAD placed at session tops, above mid-1.3200s

The USD/CAD pair built on overnight recovery move from 1.32 neighborhood and eroded majority of previous session's losses led by disappointing US durable goods orders data. 

Currently placed near session tops, around 1.3255-60 region, the Canadian Dollar is being weighed down by the US Commerce Department's statement on Tuesday to impose duties up to 30.88% on the softwood lumber exports from Canada.

   •  US Comm Dept.: Canadian softwood will face duties up to 30.88%

The pair moved higher despite of a subdued action around the greenback, with the key US Dollar Index consolidating in a range just above the 97.00 mark. Traders even shrugged off a modest up-tick in crude oil prices, which tends to underpin demand for the commodity-linked currency - Loonie.

Today's US economic docket features the release of Conference Board's Consumer Confidence Index, during early NA session. Investors focus, however, would remain glued to key speeches by Philadelphia Fed President Patrick Harker and the Fed Chair Janet Yellen, which would be looked upon for clues over the timing of next Fed rate-hike action and eventually might help determine the pair's next leg of directional move.

   •  US consumer confidence and Fed speak amongst market movers today – Danske Bank

Technical levels to watch

A strong follow through buying interest beyond 1.3265-70 region has the potential to lift the pair further towards the 1.3300 handle en-route its next major hurdle near 1.3335-40 area.

On the downside, 1.3215-10 region remains immediate strong support to defend, which if broken is likely to accelerate the slide back towards 4-month lows support near 1.3165 level.