• The USD/CAD pair inched higher in the US session on Thursday as slide in oil prices pressured oil correlated Canadian dollar.
   
• Oil prices fell as OPEC prepared to extend supply curbs by nine months to March 2018 to drain a glut that has depressed markets for almost three years.
   
• However, further upside for this pair is limited as the resistance level at 1.3553 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, the strong resistance can be seen at 1.3501, a break above will take the pair towards next resistance level at 1.3553.
   
• To the downside immediate support can be seen at 1.3448 levels, a break below will open the door towards next level at 1.3384.
  
  Resistance Levels
  
  R1: 1.3501 (38.2% Retracement level)
  
  R2: 1.3553 (61.8% Retracement level)
  
  R3: 1.3600 (Psychological levels)
  
  Support Levels
  
  S1: 1.3448 (38.2% Retracement level)
  
  S2: 1.3384 (23.6% Retracement level)
  
  S3: 1.3337 (April 7th lows)