USDCAD moves higher after Trump confirms tariffs to start in March. ...Middle East

On February 13, USDCAD broke below the Red Box, triggering a momentum-driven decline that bottomed out at 1.4150. Last week, the pair consolidated those losses, trading in a choppy manner. However, this week has seen renewed upside momentum, pushing the price back into the Red Box and signaling a shift in market sentiment.

Key Technical Levels to Watch

1.4395 – 38.2% retracement of February’s trading range1.4366 – Yesterday’s high

Resistance Levels:

1.4448 - 1.4471 – Swing area & upper boundary of the Red Box1.4459 – 50% retracement of February’s trading range (adds confluence)1.4471 – A confirmed break above this level would reinforce bullish momentum

With buyers regaining control, the focus is on whether 1.4395 - 1.4366 holds as support. A sustained push higher could challenge the 1.4448 - 1.4471 resistance zone. A break above 1.4471 would confirm further upside potential, opening the door for an extended move higher.

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

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