• The USD/CAD pair rose on Tuesday as oil dipped and the dollar was broadly steadier against a basket of major currencies.
   
• U.S. crude prices were down 0.37 percent at $46.26 a barrel, pressured by a rise in U.S. crude output that has shaken investors' faith in the ability of Organization of the Petroleum Exporting Countries to rebalance the market.
   
• Short dip around 1.3670 should be viewed as buying opportunities, as the Canadian dollar is weaker against the US dollar in intraday trading.
   
• Immediate support can be seen at 1.3663, break below this level will expose the pair to next support level at 1.2600.
   
• Immediate resistance can be seen at 1.3741, break above this level will expose the pair towards 1.3819 levels.
  
  Resistance Levels
  
  R1: 1.3741 (50% Retracement level)
  
  R2: 1.3819 (38.2% Retracement level)
  
  R3: 1.3918 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3663 (61.8% Retracement level)    
  
  S2: 1.2600 (Psychological levels)
  
  S3: 1.2540 (April 26th lows)