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

February 12, 2025
-FCHFX

February 12, 2025 at 02:43PM
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.

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

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