To study the fluid dynamic response mechanism under the working condition of water injection well borehole, based on the microelement analysis of fluid mechanics and the classical theory of hydrodynamics, a fluid microelement pressure-flow rate relationship model is built to derive and solve the dynamic distribution of fluid pressure and flow rate in the space of well borehole. Combined with the production data of a typical deviated well in China, numerical simulations and analyses are carried out to analyze the dynamic distribution of wellbore pressure at different injection pressures and injection volumes, the delayed and attenuated characteristics of fluid transmission in tube, and the dynamic distribution of wellbore pressure amplitude under the fluctuation of wellhead pressure. The pressure loss along the wellbore has nothing to do with the absolute pressure, and the design of the coding and decoding scheme for wave code communication doesn't need to consider the absolute pressure during injecting. When the injection pressure is constant, the higher the injection flow rate at the wellhead, the larger the pressure loss along the wellbore. The fluid wave signal delay amplitude mainly depends on the length of the wellbore. The smaller the tubing diameter, the larger the fluid wave signal attenuation amplitude. The higher the target wave code amplitude (differential pressure identification root mean square) generated at the same well depth, the greater the wellhead pressure wave amplitude required to overcome the wellbore pressure loss.