USDCAD rises following Federal Reserve rate decision

The USDCAD currency pair has moved higher following the Federal Open Market Committee (FOMC) rate decision, breaking through several key technical levels. The post-decision move pushed the pair above the 100-day moving average and a previous swing area between 1.3948 and 1.3966, which now serves as primary support.

To maintain bullish momentum, buyers must hold above this support and advance toward the next resistance zone located between 1.3990 and 1.4003. Conversely, sellers could regain control if the price falls below the 1.3948 to 1.3966 support range, which would shift focus back to the 100-day moving average at 1.3939.

Market news flow currently shows a bullish lean. Factors contributing to this sentiment include a hawkish Federal Reserve stance that lifted the US dollar to a seven-week high, despite fluctuations in Treasury yields.