• The USD/CAD pair inched higher on Tuesday as Canadian dollar was pressured by lower oil prices and investors braced for key events later in the week.
   
• Prices of oil, one of Canada's major exports, retreated on concerns that a diplomatic rift between Qatar and several Arab states including Saudi Arabia could undermine efforts by the Organization of the Petroleum Exporting Countries to tighten the market.
   
• The Bank of Canada on Thursday will release its review of developments in the financial system, followed by a news conference with Governor Stephen Poloz.
   
• The Canadian dollar was trading down at 0.1 percent at C$1.3475 to the greenback.
   
• The pair remains under bears control unless until it trades below 1.3550 resistance level, therefore it is good to sell this pair on rallies.
   
• The immediate support can be seen at 1.3446, break below this level will expose the pair to next support level at 1.3400.
   
• Major resistance can be seen at 1.3550, break above this level will expose the pair towards 1.3611 levels.
  
  Resistance Levels
  
  R1: 1.3498 (50% Retracement level)
  
  R2: 1.3550 (61.8% Retracement level)
  
  R3: 1.3611 (May 19th high)
  
  Support Levels
  
  S1: 1.3446 (38.2% Retracement level)    
  
  S2: 1.3400 (Psychological levels)
  
  S3: 1.3379 (23.6% Retracement level)