• The USD/CAD pair inched higher on Monday as a slump in Canadian domestic jobs and a record-wide trade deficit on Friday weighted on the Canadian dollar despite rise in oil prices.
   
• Oil rose after a report of renewed calls by some OPEC members to restrain output. U.S. crude prices were up 1.84 percent at $42.57 a barrel.
   
• The currency pair is trading around 1.3164 levels, it is expected to reach 1.3200 levels and 1.3250 levels in the short term.
   
• The immediate support can be seen at 1.3136, a break below this level will expose the pair to next support level at 1.3100.
   
• Major resistance can be seen at 1.3252, break above this level will expose it towards 1.3300 levels.
  
  Resistance Levels
  
  R1: 1.3173 (38.2% Retracement level)
  
  R2: 1.3220 (23.6% Retracement level)
  
  R3: 1.3252 (July 27th high)
  
  Support Levels
  
  S1: 1.3136 (50% Retracement level)        
  
  S2: 1.3100 (61.8% Retracement level)
  
  S3: 1.3052 (July 11th lows)