USDCAD London briefing — 2026-09-04

BIAS BEARISH. H1/H4 EMA alignment + D1 structure confirm downtrend; RSI neutral doesn't override the technical confluence. KEY LEVELS R: 1.38, 1.385, 1.39418 | S: 1.375, 1.37329, 1.37 NEWS 🔴 Net Change in Employment (CAD) 12:30 UTC 🟡 Average Hourly Wages YoY (CAD) 12:30 UTC SESSION OUTLOOK CAD labour data drops at London open. Weak employment could extend bearish pressure toward 1.375; strong data risks pullback to resistance.

Key Levels

R: 1.38000 · 1.38500 · 1.39418

S: 1.37500 · 1.37329 · 1.37000