• The USD/CAD pair inched higher on Tuesday as crude oil prices declined, with the currency pair pulling back from daily lows reached in the early European  session.
   
• The pair hit low at 1.2833 before recovering to trade around 1.2930 levels in the early US session.
   
• As long the pair trades below strong resistance located at 1.2995 levels, the ongoing bearish trend for the pair is set to continue.
   
• The immediate support can be seen at 1.2876, break below this level will expose the pair to next support level at 1.2833.
   
• Major resistance can be seen at 1.2995, break above this level will expose it towards 1.3050 and beyond.
  
  Resistance Levels
  
  R1: 1.2941 (38.2% Retracement level)
  
  R2: 1.2995 (50% Retracement level)
  
  R3: 1.3050 (61.8% Retracement level)
  
  Support Levels
  
  S1: 1.2876 (38.2% Retracement level)    
  
  S2: 1.2833 (Daily lows)
  
  S3: 1.2768 (May 12th lows)