• The USD/CAD pair continued to inch higher on Monday as the loonie was pressured by lower oil prices and weaker-than-expected Chinese trade data reinvigorated a recent selloff in metals.
   
• Copper prices slid to a four-month low after data showed a sharp drop in imports into China, the world's biggest consumer, feeding pessimism about demand following hefty inflows into London Metal Exchange inventories last week.
   
• Short dip around 1.3650 should be viewed as buying opportunities, as the Canadian dollar is weaker against the US dollar in intraday trading.
   
• The immediate support can be seen at 1.3637, break below this level will expose the pair to next support level at 1.3600.
   
• Major resistance can be seen at 1.3792, break above this level will expose it towards 1.3868 levels.
  
  Resistance Levels
  
  R1: 1.3739 (38.2% Retracement level)
  
  R2: 1.3792 (May 5th high)              
  
  R3: 1.3868 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3637 (50% Retracement level)        
  
  S2: 1.3600 (Psychological levels)               
  
  S3: 1.3531 (61.8% Retracement level)