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fxAug 18, 2026, 1:56 AM

Canadian Dollar Holds Near Early June High as Oil Prices Offset Modest USD Strength

USD/CAD consolidates in Asian trading after bouncing from its 200-day SMA near 1.3845, the lowest level since June 3, as oil gains support the Canadian dollar.

USDCAD

USD/CAD has struggled to build on an overnight bounce from its 200-day simple moving average support near the 1.3845 area, according to the post. That zone is the pair's lowest level since June 3.

The Canadian dollar is holding near its early June high, as rising oil prices offset what was described as modest U.S. dollar strength. The pair is seen consolidating during the Asian session.

The report did not provide additional detail on catalysts beyond the oil and dollar dynamics.

Source: FXStreet Forex News