• The USD/CAD inched higher on Monday, surging up to 1.2827 in the early American session, following slump in oil prices, weighed down by gloomy economic prospects in Europe and Asia and a related strengthening in the U.S. dollar.
   
• The ongoing upside is set to continue as the support level at 1.2658 is set to hold the bears from falling further below and rebound back to higher side.
   
• To the upside, the immediate resistance can be seen at 1.2838, a break above this level would take the pair towards next resistance level at 1.2883.
   
• To the downside immediate support can be seen 1.2747, a break below this level will open the door towards next level at 1.2700.
  
  Resistance Levels
  
  R1: 1.2838 (38.2% Retracement level)                      
  
  R2: 1.2883 (May 12th high)
  
  R3: 1.2941 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.2747 (50% Retracement level)
  
  S2: 1.2700 (Psychological levels)
  
  S3: 1.2658 (61.8% Retracement level)