• USD/CAD hovered near seven-month high as oil prices fell and data showed domestic housing activity picking up.
• Canadian home sales rose 5.5% in May from April, making up some ground after a slow start to the typically active spring market.
•The U.S. dollar edged lower against a basket of major currencies as investors awaited the conclusion of the Federal Reserve's policy meeting on Wednesday.
•U.S. crude oil futures settled 5.8% lower at $76.05 a barrel on optimism that the deal would allow oil to flow through the Strait of Hormuz.
• Immediate resistance is located at 1.4025 (23.6%fib), any close above will push the pair towards 1.3950(June 15th low).
• Support is seen at 1.3950(June 15th low). and break below could take the pair towards 1.3900(38.2%fib).
Recommendation: Good to buy around 1.3990, with stop loss of 1.3900, and target price of 1.4080
