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FXstreet.com (Barcelona) - The USD/CAD has operates in a 28-pip range Monday (0.9859-0.9887), as the newswires are rather slim in terms of pricing movements and catalysts. During the late morning of European trading, the pair is trading in positive territory, recording a tepid gain of +0.07% and settling at 0.9872/74.

Later today, investors will be keyed in to the release of economic data in Canada - beginning at 15:00 GMT, the Ivey Purchasing Managers Index/s.a. is scheduled for release. Presently however, regarding the movements of the CAD, the price of crude is trading at USD $93.09, or +0.18%.

"The stochastic offers a positive crossover after rebounding to the upside from levels around 20. Therefore, we think that the USD/CAD might attempt to move to the upside, and a breach of 0.9910 levels with stability above it will extend the bullish move this week. The positive expectations require stability above 0.9800 levels however." note the ICN .com analyst team.

Mataf.net analysts point to resistances at 0.9881 onto 0.9956, and finally 0.9989. On the downside, a break below 0.9839 will trigger supports at 0.9806 down to 0.9764.

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