USD/CAD Maintains Bullish Stance for Further UpsideUSD/CADOANDA:USDCADNouzTraderUSD/CAD USDCAD maintained a positive bias for the second consecutive session, trading around the mid-1.3800s (1.3850) throughout Tuesday's Asian session. ---------------------------------------------------------------------------------------- 🎯 Escalation of US-Canada Trade War & Scotiabank Exclusive Report The Canadian Dollar (CAD) came under intense pressure following the collapse of bilateral trade negotiations: - 🔸US Imposition of 50% Tariffs on Canadian Goods ($20 Billion): Trade talks between Washington and Ottawa abruptly collapsed last Friday. In response, the US government officially imposed a 50% tariff on US$20 billion worth of Canadian exports on Saturday. - 🔸Mark Carney’s "Dollar-for-Dollar" Retaliation: Canadian Prime Minister Mark Carney firmly retaliated, stating that Canada would impose equivalent ("dollar-for-dollar") tariffs starting September 8, 2026, alongside a domestic aid package for affected businesses. - 🔸Scotiabank Strategist Analysis: A team of analysts at Scotiabank reported that the last-minute failure of trade talks has "derailed the positive sentiment that had been building around the CAD over the past four weeks." Scotiabank highlighted that this situation marks the beginning of a period of significantly heightened policy uncertainty for the Canadian business landscape. ---------------------------------------------------------------------------------------- 🎯 H4 Chart Technical Analysis From a technical perspective, USD/CAD is attempting to establish a consolidation base: - 🔸1.3848 Support Level: The 1.3848 area acts as a critical support level. Holding above this level supports the potential for a short-term rise toward 1.3910. - 🔸Breakdown Confirmation: A clean break and daily close below 1.3848 would confirm the invalidation of the recent recovery and drag USD/CAD down to retest the three-month low in the 1.3780 area.