• The USD/CAD pair declined on Thursday as Canadian dollar strengthened across the board as oil prices rose and domestic manufacturing sales fell less-than-expected, while the greenback lost ground against a basket of major currencies.
   
• Data from Statistics Canada showed, Canadian manufacturing sales fell 0.2 percent in February after three consecutive months of increases, weighed down by declines in the vehicle assembly sector.
   
• Prices of oil, one of Canada's major exports, rose after the International Energy Agency (IEA) said the market was nearing balance.
   
• The ongoing weakness is set to continue for this pair, as the Canadian dollar is set strengthen further against its US counterpart in short term.
   
• To the upside, the immediate resistance can be seen at 1.3260, a break above this level would expose the pair to next resistance level at 1.3298.
   
• To the downside, immediate support can be seen at 1.3222, a break below at this level will open the door towards next level at 1.3200.
  
  Resistance Levels
  
  R1: 1.3260 (50% Retracement level)
  
  R2: 1.3298 (61.8% Retracement level)
  
  R3: 1.3356 (April 11th high)
  
  Support Levels
  
  S1: 1.3222 (38.2% Retracement level)    
  
  S2: 1.3200 (psychological levels)
  
  S3: 1.3175 (23.6% Retracement level)