• USD/CAD hit 10-day low on Monday as higher oil prices and weaker US dollar boosted loonie .
• The U.S. dollar fell ahead of week packed with U.S. economic data that could offer more clues on the U.S. Federal Reserve's monetary policy.
•Investors are closely watching this week’s U.S. nonfarm payrolls, inflation, and jobless claims data for clues on monetary policy, with markets already pricing in at least two 25-basis-point rate cuts in 2026.
• Oil prices rose more than 1% on Monday after the U.S. Department of Transportation advised U.S.-flagged vessels to avoid Iranian waters while transiting the Strait of Hormuz and the Gulf of Oman..
• Immediate resistance is located at 1.3616(38.2%fib), any close above will push the pair towards 1.3719(50%fib).
• Support is seen at 1.3485(23.6%fib) and break below could take the pair towards 1.3410(Lower BB).
