USD/CAD Under Pressure as Hot Canadian CPI & Rising Oil Support
Setup Overview 
USDCAD
USD/CAD remains inside a well-defined descending channel, with price now retesting the upper channel boundary and the marked resistance zone around 1.3872–1.3878. The repeated inability to break this area keeps the broader intraday structure bearish and favors a rejection toward the lower support levels.
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✅ Possible Trading Plan:
Bearish / SELL — Watch for rejection from 1.3872–1.3878 and bearish candle confirmation before targeting the marked supports. A sustained break above the resistance zone would weaken the bearish setup.
Key Levels:
🔴 1st Support: 1.38298
🔴 2nd Support: 1.38108
🟢 Resistance Zone: 1.3872–1.3878
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Today Macro Updates : (18.08.2026)
✅Oil supply risk is rising: Renewed U.S.–Iran tensions pushed Brent above $91, supporting oil-sensitive currencies such as CAD while adding broader inflation pressure.
✅Canada’s inflation has re-accelerated: July headline CPI rose to 3.0%, helping Canadian yields and the CAD, although the approaching U.S. tariff deadline remains an important counterweight.
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Disclaimer :
This analysis is provided for educational and informational purposes only and does not constitute financial advice.
✅ Off to you:
Do you expect USD/CAD to reject the resistance zone and continue lower? Let me know your bullish or bearish view in the comments.
USDCAD USD/CAD remains inside a well-defined descending channel, with price now retesting the upper channel boundary and the marked resistance zone around 1.3872–1.3878. The repeated inability to break this area keeps the broader intraday structure bearish and favors a rejection toward the lower support levels.
-------------------------------------------
✅ Possible Trading Plan:
Bearish / SELL — Watch for rejection from 1.3872–1.3878 and bearish candle confirmation before targeting the marked supports. A sustained break above the resistance zone would weaken the bearish setup.
Key Levels:
🔴 1st Support: 1.38298
🔴 2nd Support: 1.38108
🟢 Resistance Zone: 1.3872–1.3878
----------------------------------------------
Today Macro Updates : (18.08.2026)
✅Oil supply risk is rising: Renewed U.S.–Iran tensions pushed Brent above $91, supporting oil-sensitive currencies such as CAD while adding broader inflation pressure.
✅Canada’s inflation has re-accelerated: July headline CPI rose to 3.0%, helping Canadian yields and the CAD, although the approaching U.S. tariff deadline remains an important counterweight.
-----------------------------------------------
Disclaimer :
This analysis is provided for educational and informational purposes only and does not constitute financial advice.
✅ Off to you:
Do you expect USD/CAD to reject the resistance zone and continue lower? Let me know your bullish or bearish view in the comments.
Zlecenie aktywne
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• August 18, 2026 — U.S. Industrial Production & Capacity Utilization
• August 19, 2026 — FOMC Minutes
• August 20, 2026 — Philadelphia Fed Index
• August 21, 2026 — Canada Retail Sales
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