FxWirePro:USD/CAD bulls struggles as upside momentum fades

• USD/CAD dipped on Wednesday as dollar eased for second session after a U.S. inflation reading increased expectations of a Federal Reserve rate cut next month .

• U.S. consumer prices rose slightly in July, matching forecasts, as the impact of President Trump's tariffs on goods prices remained limited.

•  CME Group's FedWatch tool now shows a 97% probability of a rate cut at the Fed's September 16-17 meeting, up from 86% a day earlier and 57% a month ago.

• Investors are now awaiting further U.S. data this week, including the producer price index, weekly jobless claims, and retail sales.

 •  On the geopolitical front, European and Ukrainian leaders were scheduled to speak with President Trump ahead of his meeting with Russian President Vladimir Putin, while Washington and Beijing extended their tariff truce by 90 days.

• Immediate resistance is located at 1.3807(Daily high), any close above will push the pair towards 1.3879(50%fib).

• Support is seen at 1.3746(38.2%fib) and break below could take the pair towards 1.3658(July 11th low).

Recommendation: Good to buy around 1.3750, with stop loss of 1.3650 and target price of 1.3860