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• USD/CAD declined sharply on Monday as higher oil prices and weaker greenback boosted Canadian dollar,
• U.S. dollar fell as markets pared expectations of future interest-rate cuts by the Federal Reserve..
• Oil prices rose following reports that output at Norway's Johan Sverdrup oilfield has halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war.
• At GMT 18:54, the pair was trading down 0.55% at 1.4012 ,reversing from Fridays high 1.4098.
• Immediate resistance is located at 1.4101(Higher BB), any close above will push the pair towards 1.4120(23.6%fib).
• Support is seen at 1.4002(38.2%fib) and break below could take the pair towards 1.3901(50%fib).
Recommendation: Good to sell around 1.4050 with stop loss of 1.4150 and target price of 1.3970
