• The USD/CAD pair declined on Monday as oil prices rose, while softer-than-expected U.S. data weighed on the greenback.
   
• Oil edged up for a third straight session, climbing off last week's seven-month lows, but gains were capped by a relentless rise in U.S. supply and bloated global inventories.
   
• The greenback dipped against a basket of major currencies after new orders for key U.S.-made capital goods unexpectedly fell in May and shipments also declined, suggesting a loss of momentum in the manufacturing sector halfway through the second quarter.
   
• The ongoing weakness is set to continue for this pair as the resistance level at 1.3314 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
   
• The immediate support can be seen at 1.3210, break below this level will expose the pair to next support level at 1.3189.
   
• Major resistance can be seen at 1.3314, break above this level will expose the pair towards 1.3348 levels.
  
  Resistance Levels
  
  R1: 1.3263 (50% Retracement level)
  
  R2: 1.3314 (61.8% Retracement level)
  
  R3: 1.3348 (June 21st  high)
  
  Support Levels
  
  S1: 1.3210 (38.2% Retracement level)    
  
  S2: 1.3189 (June 19th lows)
  
  S3: 1.3154 (23.6% Retracement level)