• The USD/CAD declined on Monday as the Canadian dollar was helped by higher oil prices and slight weakness in dollar.
   
• Greenback edged lower ahead of U.S. President Donald Trump's speech this week, where he is expected to unveil clues on tax reform.
   
• Oil prices rose as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in U.S. oil production.
   
• The currency pair is trading at 1.3100 levels, it is expected to reach 1.3050 levels and later towards 1.3000 levels in the short term.
   
• The immediate support can be seen at 1.3083, break below this level will expose the pair to next support level at 1.3030.
   
• Major resistance can be seen at 1.3157, break above this level will expose the pair towards 1.3210 levels.
  
  Resistance Levels
  
  R1: 1.3121 (50% Retracement level)
  
  R2: 1.3157 (61.8% Retracement level)    
  
  R3: 1.3210(Feb 22nd high)
  
  Support Levels
  
  S1: 1.3083 (38.2% Retracement level)    
  
  S2: 1.3030 (23.6% Retracement level)    
  
  S3: 1.3000 (Psychological levels)