• The USD/CAD pair remained in strong bullish tone on Monday as buying interest continued as falling oil prices and stronger dollar across the board weighted on Canadian dollar.
   
• Oil prices slid after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices.
   
• Further downside is expected to be limited as the pair finds strong support at 1.3366 which should limit further decline and bring rebound towards higher levels in the short term.
   
• To the upside, the strong resistance can be seen at 1.3453, a break above this level would take the pair towards next resistance level at 1.3507.
   
• To the downside, strong support can be seen 1.3409, a break below this level will open the door towards next level at 1.3366.
  
  Resistance Levels
  
  R1: 1.3432 (Daily high)                     
  
  R2: 1.3453 (38.2% Retracement level)
  
  R3: 1.3507 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3409 (50% Retracement level)
  
  S2: 1.3366 (61.8% Retracement level)
  
  S3: 1.3000 (Psychological levels )