• USD/CAD pair in the early US session has paused to trade around 1.3185 levels, having inched higher during the previous European session. The pair is trading a few pips below its daily high, maintaining its overall bullish tone intact.
   
• Oil prices edged up slightly on Thursday after two consecutive days of losses, with gains capped by returning supplies from Nigeria and Libya.
   
• Further, decline for this pair is expected to be limited as US dollar is set to gain further strength in the coming days on rate hike views.
   
• To the upside, the strong resistance can be seen at 1.3254, a break above this level would take the pair towards next resistance level at 1.3300.
   
• To the downside, strong support can be seen 1.3121, a break below this level will open the door towards next level at 1.3060.
  
  Resistance Levels
  
  R1: 1.3216 (Session high)                               
  
  R2: 1.3254 (23.6% Retracement level)
  
  R3: 1.3300 (Psychological levels)|
  
  Support Levels
  
  S1: 1.3121 (50% Retracement level)
  
  S2: 1.3060 (61.8% Retracement level)
  
  S3: 1.3000 (Aug 5th lows )