USD/CAD: Canadian CPI Data Could Push Pair Toward Key Resistance

USD/CAD is approaching a technically sensitive zone as Canada's May CPI is forecast to rise to 3.0% year-over-year, up from 2.8% in April. The pair has been consolidating after recent Bank of Canada rate hold, with resistance seen near 1.3650 and support holding around 1.3520. Energy price dynamics remain a key driver of headline inflation, adding directional pressure on the Loonie. Traders should watch Monday's CPI release closely. A hotter-than-expected print could weigh on CAD, pushing USD/CAD toward the 1.3650 resistance level. Conversely, in-line or softer core readings may keep the pair range-bound. Bias is mildly bullish USD/CAD heading into the data, pending a confirmed breakout above near-term resistance.