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?