The USDCAD moved above its 100 hour MA after the stronger US CPI. Watching support now.

The USD/CAD has moved above the 100-hour moving average at 1.4317 following the release of U.S. CPI data. Holding above this level keeps buyers in control, reinforcing the bullish momentum. However, a move back below could weaken the upside reaction and signal a loss of strength.

On the upside, the next key resistance level is 1.4348. A break above this would open the door to a stronger target at 1.4368, a level that aligns with previous swing highs and lows dating back to January 28.

If buyers push beyond 1.4368, the focus shifts to the 200-hour moving average at 1.4382. A sustained move above this level would further strengthen bullish sentiment and indicate a potential continuation of the uptrend.

Buyers are making a play. Can they keep the upside momentum going?

This article was written by Greg Michalowski at www.forexlive.com.