FXStreet (Mumbai) - The CAD traders turned a blind eye towards a mixed batch of Canadian data and pushed USD/CAD to a fresh session low of 1.4139 tracking the 5% rally in oil prices. Weekly loss on cards The sharp fall in oil today and the resulting drop in the USD/CAD mean the weekly loss is almost a done deal now. The oversold oil prices are witnessing correction and so is the oversold Canadian dollar. A better-than-expected Canada retail sales and a drop in the consumer price index is being ignored by the markets as of now. Ahead in the day, Oil prices could continue to guide the pair. The US data – manufacturing PMI and existing home sales may affect demand for the US dollars. USD/CAD Technical Levels The pair now trades around 1.4168. The immediate support is seen at 1.41 handle, under which the pair could drop to 1.3980 (38.2% of 1.2832-1.4690). On the other hand, a break above 1.4251 (23.6% of 1.2832-1.4690) could see the pair re-test 1.4378 (10-DMA). For more information, read our latest forex news.