• The USD/CAD inched higher on Monday as stronger dollar across the board and fall in oil prices weighted on Canadian dollar.
   
• The price of U.S. crude was down 0.92 percent at $50.38 a barrel as Iraq said it wanted to be exempt from a deal by the Organization of the Petroleum Exporting Countries to cut production.
   
• As long the pair trades above strong support zone located at 1.3281 levels, the ongoing bullish trend for the pair is set to continue in the short term.
   
• The immediate support can be seen at 1.3341, break below this level will expose the pair to next support level at 1.3281.
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• Major resistance can be seen at 1.3400, break above this level will expose it towards 1.3471 levels.
  
  Resistance Levels
  
  R1: 1.3400 (38.2% Retracement level)
  
  R2: 1.3471 (23.6% Retracement level)
  
  R3: 1.3500 (Psychological levels)
  
  Support Levels
  
  S1: 1.3341 (50% Retracement level)        
  
  S2: 1.3281 (61.8% Retracement level)
  
  S3: 1.3210 (Oct 12th lows)