CANADA DATA: Labour Force Survey Preview: Analysts Eye 5K Gain, 6.5% Unemp (2/2)

Iran's Revolutionary Guards said early on Wednesday September 9th that ships in Kuwaiti and Bahraini ports which host Americans will be targeted in response to US attacks on Iranian oil tankers, according to the IRGC and reported by Reuters

• The Guards Navy warned all crews to evacuate, according to a statement carried by state media.

• RES 4: 1.4175 High Jul 13
• RES 3: 1.4129 High Jul 28 
• RES 2: 1.4080 High Aug 4 and 5
• RES 1: 1.3874/3931 50-day EMA 
• PRICE: 1.3780 @ 16:56 BST Sep 08
• SUP 1: 1.3732 Low Aug 21 and the bear trigger
• SUP 2: 1.3715 76.4% retracement of the May 1 - Jun 24 bull cycle
• SUP 3: 1.3672 Low May 12
• SUP 4: 1.3620 Low May 7

The trend set-up in USDCAD remains bearish and last Wednesday’s reversal reinforces a bear theme. A key near-term resistance at the 50-day EMA, at 1.3931, is intact. A clear break of this average is required to strengthen any short-term bull theme and this would signal scope for a stronger retracement of the Jun 24 - Aug 21 bear leg. For bears, attention is on key near-term support at 1.3732, the Aug 21 low.  

• RES 4: 1.4175 High Jul 13
• RES 3: 1.4129 High Jul 28  
• RES 2: 1.4080 High Aug 4 and 5 
• RES 1: 1.3874/3931 50-day EMA  
• PRICE: 1.3780 @ 16:56 BST Sep 08
• SUP 1: 1.3732 Low Aug 21 and the bear trigger
• SUP 2: 1.3715 76.4% retracement of the May 1 - Jun 24 bull cycle
• SUP 3: 1.3672 Low May 12
• SUP 4: 1.3620 Low May 7

The trend set-up in USDCAD remains bearish and last Wednesday’s reversal reinforces a bear theme. A key near-term resistance at the 50-day EMA, at 1.3931, is intact. A clear break of this average is required to strengthen any short-term bull theme and this would signal scope for a stronger retracement of the Jun 24 - Aug 21 bear leg. For bears, attention is on key near-term support at 1.3732, the Aug 21 low.