FxWirePro: USD/CAD regains upward movement after oil rebound fades

The USD/CAD surged higher on Monday, as oil prices declined towards 41.16 $ per barrel.

• Oil prices rebound waned in US session reversing earlier gains as uncertainty lingered over the outcome of a meeting of world’s major oil exporters.
   
• To the upside, the strong resistance can be seen at 1.3091, a break above will take the pair towards next resistance level at 1.3128.
   
• To the downside immediate support can be seen at 1.3062 levels, a break below will open the door towards next level at 1.3036.
  
  Resistance Levels
  
  R1: 1.3091 (38.2% Retracement level)
  
  R2: 1.3128 (38.2% Retracement level)
  
  R3: 1.3164 (March 11th lows)
  
  Support Levels
  
  S1: 1.3062 (50% Retracement level)
  
  S2: 1.3036 (61.8% Retracement level)
  
  S3: 1.3000 (Psychological levels)