Ella 
The USD/CAD pair pared recent losses during early European trading on Tuesday. The pair is currently trading around 1.3487, up 0.25% on the day.
The hawkish stance of Federal Reserve (Fed) officials and falling oil prices are the main drivers for the pair. Market participants are awaiting Canadian gross domestic product (GDP) data and U.S. core personal consumption expenditures (PCE) price index data on Friday for fresh impetus.
From a technical perspective, USD/CAD remains below the 50- and 100-hour exponential moving averages (EMA) on the four-hour chart, with the above EMA maintaining a downward slope, which supports sellers for now. Meanwhile, the relative strength index (RSI) is in the 40-60 range, indicating a non-directional trend in the USD/CAD pair.
