FXStreet (Edinburgh) - The Canadian dollar is now trading on a firmer footing vs. its American neighbour on Wednesday, dragging USD/CAD back to sub-1.4200 levels. USD/CAD focus on Fedspeak, oil Today’s recovery of crude oil prices is lending further support to the Canadian currency, with the barrel of the West Texas Intermediate now recovering the $31.00 mark and beyond in spite of the USD advance. Spot has surpassed the 1.4300 handle during the NA session on Tuesday, posting fresh 13-year highs, albeit losing some upside momentum since then. Next on tap in the US docket, speeches by Fed’s E.Rosengren and C.Evans are due followed by Fed’s Beige Book. USD/CAD significant levels At the moment the pair is down 0.44% at 1.4193 and a breach of 1.3977 (20-day sma) would aim for 1.3793 (low Dec.24) and finally 1.3675 (3-month uptrend). On the flip side, the next resistance aligns at 1.4316 (high Jan.12) followed by 1.4672 (high Apr.24 2003) and then 1.4946 (high Apr.7 2003). For more information, read our latest forex news.