• USD/CAD initially inched higher after the release of US ADP Employment data in the early US session, but the commodity related currency pair declined after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles.
   
• U.S. crude inventories rose for a second week in row, gaining 1.4 million barrels last week, compared with analysts' expectations for a decrease of 1.4 million barrels.
   
• The pair remains in bullish territory unless until it trades above 1.2985 levels, therefore its good buy this pair around 1.3000 levels.
   
• The immediate support can be seen at 1.3060, break below this level will expose the pair to next support level at 1.3024.
   
• Major resistance can be seen at 1.3147, break above this level will expose it towards 1.3200 levels.
  
  Resistance Levels
  
  R1: 1.3110 (23.6% Retracement level)    
  
  R2: 1.3147 (Daily high)   
  
  R3: 1.3200 (Psychological levels)
  
  Support Levels
  
  S1: 1.3060 (38.2% Retracement level)
  
  S2: 1.3024 (50% Retracement level)        
  
  S3: 1.2985 (61.8% Retracement level)