• The USD/CAD pair rose on Monday as oil dipped and the dollar was broadly steadier after a poor set of wages data on Friday.
   
• The price of oil, one of Canada's major exports, edged down below $57 barrel on Monday as a stronger dollar and ample U.S. supplies outweighed OPEC output curbs and rising tensions between the United States and Iran.
   
• Short dip around 1.3000 should be viewed as buying opportunities, as the Canadian dollar is weaker against the US dollar in intraday trading.
   
• Immediate support can be seen at 1.3030, break below this level will expose the pair to next support level at 1.2963.
   
• Immediate resistance can be seen at 1.3096, break above this level will expose the pair towards 1.3127 levels.
  
  Resistance Levels
  
  R1: 1.3096 (38.2% Retracement level)
  
  R2: 1.3127 (Jan 31st high)
  
  R3: 1.3181 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3030 (50% Retracement level)        
  
  S2: 1.2963 (61.8% Retracement level)
  
  S3: 1.2900 (Psychological levels)