• Canadian dollar firmed against US dollar on Monday, as the pair declined after crude oil prices rose to hit six month high on worries about global supply outages.
   
• The intraday trend remains bearish for the pair as the oil co-related Canadian dollar has shown strength  against US dollar lately as the oil prices jumped towards $ 48.45 a barrel.
   
• The currency pair is trading at 1.2891 levels, it is expected to reach 1.2850 levels and later 1.2780 levels in the short term.
   
• The immediate support can be seen at 1.2923, break below this level will expose the pair to next support level at 1.2829.
   
• Major resistance can be seen at 1.4314, break above this level will expose it towards 1.2963 levels.
  
  Resistance Levels
  
  R1: 1.2894 (61.8% Retracement level)                    
  
  R2: 1.2923 (50% Retracement level)
  
  R3: 1.2963 (Daily high)
  
  Support Levels
  
  S1: 1.2866 (38.2% Retracement level)    
  
  S2: 1.2829 (23.6% Retracement level)    
  
  S3: 1.2771 (May 12th)