• The USD/CAD pair rose on Friday as Canadian dollar was weighed down by lower oil prices and cooler-than-expected domestic inflation data.
   
• The annual rate fell to 1.6 percent from the previous month's 2.0 percent, exceeding economists' forecasts for a decline to 1.8 percent. The three measures of core inflation put in place by the Bank of Canada last year remained tame.
   
• Oil held near $53 a barrel on Friday but was on course for its biggest weekly drop in a month due to doubts that an OPEC-led production cut will restore balance to an oversupplied market.
   
• The pair remains under bulls control unless until it trades above 1.3457 support level, therefore it is good to buy this pair on dips.
   
• The immediate support can be seen at 1.3487, break below this level will expose the pair to next support level at 1.3457.
   
• Major resistance can be seen at 1.3547, break above this level will expose the pair towards 1.3600 levels.
  
  Resistance Levels
  
  R1: 1.3517 (38.2% Retracement level)
  
  R2: 1.3547 (23.6% Retracement level)
  
  R3: 1.3600 (Psychological levels)
  
  Support Levels
  
  S1: 1.3487 (50% Retracement level)        
  
  S2: 1.3457 (61.8% Retracement level)
  
  S3: 1.3425 (March 13th lows)