• The USD/CAD pair declined in the US session on Friday as oil prices recovered, while dollar dipped after weaker-than-expected U.S. housing data fueled doubts that whether the Federal Reserve will be able to raise interest rates again this year.
   
• Prices of oil, one of Canada's major exports, edged up from 2017 lows but remained on track for a fourth consecutive week of losses because of excess supplies.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.3378 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• To the upside, the strong resistance can be seen at 1.3300, a break above will take the pair towards next resistance level at 1.3378.
   
• To the downside immediate support can be seen at 1.3222 levels, a break below will open the door towards next level at 1.3160.
  
  Resistance Levels
  
  R1: 1.3300 (50% Retracement level)
  
  R2: 1.3378 (61.8% Retracement level)
  
  R3: 1.3455 (April 4th high)
  
  Support Levels
  
  S1: 1.3222 (38.2% Retracement level)
  
  S2: 1.3160 (23.6% Retracement level)
  
  S3: 1.3100 (Psychological levels)