• The USD/CAD pair continued its decline on Tuesday as the Canadian dollar gained strength as the prices of oil gained further ground.
   
• The pair hit low at 1.3104 levels in the early US session but recovered towards 1.3116 as oil prices pared gains.
   
• The pair remains weak as the Canadian dollar is set to gain further against the dollar in the short term.
   
• The currency pair is trading at 1.3113 levels, it is expected to reach 1.3090 levels and 1.3060 levels in the short term.
   
• The immediate support can be seen at 1.3102, a break below this level will expose the pair to next support level at 1.3060.
   
• Major resistance can be seen at 1.3134 break above this level will expose it towards 1.3168 levels.
  
  Resistance Levels
  
  R1: 1.3134 (50% Retracement level)
  
  R2: 1.3168 (61.8% Retracement level)    
  
  R3: 1.3211 (Dec 9th high)
  
  Support Levels
  
  S1: 1.3102 (38.2% Retracement level)    
  
  S2: 1.3060 (23.6% Retracement level)    
  
  S3: 1.3000 (Psychological levels)