• The USD/CAD pair continued to gain from Friday’s close, as the Canadian dollar lost further ground against US dollar on Monday.
   
• Oil prices declined to hit 2 1/2 month lows on Monday amid worries that a global glut of crude and refined products would weigh on markets for some time.
   
• The currency pair is trading around 1.3227 levels, it is expected to reach 1.3300 levels and 1.3350 levels in the short term.
   
• The immediate support can be seen at 1.3182, break below this level will expose the pair to next support level at 1.3106.
   
• Major resistance can be seen at 1.3258, break above this level will expose the pair towards next resistance level at 1.3300.
  
  Resistance Levels
  
  R1: 1.3258 (38.2% Retracement level)
  
  R2: 1.3300 (Psychological levels)
  
  R3: 1.3349 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3182 (50% Retracement level)        
  
  S2: 1.3106 (61.8% Retracement level)
  
  S3: 1.3050 (July 22nd low)