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.
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