• The USD/CAD pair rose on Tuesday as oil prices fell and investors braced for an interest rate decision midweek from the U.S. Federal Reserve.
   
• Investors do not expect the U.S. central bank to raise rates this week. But interest rate futures are pricing a roughly 70 percent chance that the Fed will hike in June, according to the CME's FedWatch.
   
• Oil prices rose on news of lower production by Russia and OPEC, and expectations that major exporters would extend output cuts into the second half of the year.
   
• Currently, the currency pair is trading at 1.3704 levels, it is set to advance further towards 1.3750 and later 1.3800 levels in the short term.
   
• The immediate support can be seen at 1.3687, break below this level will expose the pair to next support level at 1.3646.
   
• Major resistance can be seen at 1.3785, break above this level will expose the pair towards 1.3800 levels.
  
  Resistance Levels
  
  R1: 1.3732 (38.2% Retracement level)
  
  R2: 1.3785 (23.6% Retracement level)
  
  R3: 1.3800 (Psychological levels)
  
  Support Levels
  
  S1: 1.3687 (50% Retracement level)        
  
  S2: 1.3646 (61.8% Retracement level)
  
  S3: 1.3541 (April 24th lows)