• The USD/CAD pair declined on Wednesday hitting as low as 1.2869 after oil prices remained near six-week highs and investors remained cautious ahead of minutes of the Federal Reserve's July policy meeting.
   
• The currency pair is trading at 1.2896 levels, it is expected to reach 1.2800 levels and 1.2750 levels in the short term.
   
• The immediate support can be seen at 1.2844, break below this level will expose the pair to next support level at 1.2769.
   
• Major resistance can be seen at 1.2981, break above this level will expose it towards 1.3082 levels.
  
  Resistance Levels
  
  R1: 1.2916 (50% Retracement level)        
  
  R2: 1.2981 (61.8% Retracement level)    
  
  R3: 1.3082 (Aug 11th high)
  
  Support Levels
  
  S1: 1.2844 (38.2% Retracement level)
  
  S2: 1.2769 (23.6% Retracement level)    
  
  S3: 1.2700 (Psychological levels)