USD/CAD moves higher as traders focus on Canada's inflation reports

USD/CAD Is Moving Away From Recent Lows

USD/CAD attempts to rebound after the recent pullback as traders focus on inflation data from Canada. Inflation Rate increased from 1.9% in January to 2.6% in February, compared to analyst forecast of 2.2%. Core Inflation Rate grew from 2.1% to 2.7%, while analysts expected that it would increase to 2.2%.

If USD/CAD climbs above the resistance at 1.4330 – 1.4350, it will head towards the next resistance at 1.4485 – 1.4500.