• The USD/CAD pair slightly dipped on Monday, as the Canadian dollar gained strength as the price of oil steadied in holiday-thinned trading and ahead of the release of data on the country's gross domestic product (GDP) due on Wednesday.
   
• U.S. crude prices were up 0.04 percent to $49.82 a barrel in subdued trading due to public holidays in China, the United States and Britain.
   
• Economists forecast that the Canadian economy grew at a 3.9 percent annualized pace in the first quarter after a strong expansion in the second half of 2016.
   
• The currency pair is trading at 1.3440 levels, it is expected to reach 1.3400 levels and 1.3380 levels in the short term.
   
• The immediate support can be seen at 1.3438, break below this level will expose the pair to next support level at 1.3383.
   
• Major resistance can be seen at 1.3571, break above this level will expose it towards 1.3600 levels.
  
  Resistance Levels
  
  R1: 1.3504 (50% Retracement level)
  
  R2: 1.3541 (May 24th high)          
  
  R3: 1.3571 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.3438 (38.2 % Retracement level)   
  
  S2: 1.3383 (May 25th lows)           
  
  S3: 1.3353 (23.6% Retracement level)