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A U.S. appeals court rejected the Trump administrations request to implement rules restricting mail-in voting.September 11 – According to the Wall Street Journal, citing informed officials in the US and the Middle East, Iran has resumed ballistic missile production, reassembling missiles in underground facilities using previously stockpiled components. Sources say Iran is producing liquid-fueled and solid-fueled ballistic missiles and is operating at multiple underground locations, including the Khojir missile facility in southeastern Iran, while also attempting to build new underground assembly sites to avoid further attacks. The report states that Iran is currently relying primarily on existing stockpiled components for low-scale production, with output below pre-war levels. A US official stated that Iran may be assembling at least several hundred missiles using existing components. The report cites analysts as saying that Iran previously stockpiled warheads, missile bodies, and guidance and control systems; new missile production depends on the size of the stockpile and the recovery of underground facilities, and could reach hundreds or even thousands of missiles. US Department of Defense spokesman Parnell stated that the US has destroyed "up to 90%" of Irans drones, ballistic missiles, and naval industrial infrastructure. Previously, US Defense Secretary Hergsays also stated that Irans missile program had been "substantially destroyed." However, satellite images show that Iran is repairing roads, bridges, production facilities, and missile base tunnel entrances, raising concerns among US and Israeli officials that its military capabilities are being restored.According to the Wall Street Journal, informed U.S. and Middle Eastern officials say Iran has resumed ballistic missile production using stockpiled parts and in underground facilities, undermining major war gains previously claimed by the U.S. and Israel.According to Al Jazeera, the UN Security Council meeting on Yemen, requested by the UK and Bahrain, will be held tonight local time.Officials involved: Federal Aviation Administration (FAA) Administrator Bryan Bedford met with airline CEOs on Thursday to discuss plans to use software systems to reduce flight delays.

USD/CAD Price Analysis: Retracement Moves Seek Confirmation at 1,3000

Alina Haynes

May 13, 2022 10:00

USD/CAD consolidates recent advances while retreating from its highest level since November 2020, reaching a fresh intraday low around 1.3010 during the Asia session on Friday.

 

In doing so, the Loonie pair depicts a pullback from a four-day-old resistance line, which was near 1.3080 at the time of publication.

 

Given that the downward-sloping RSI (14) line is not oversold, the most recent price downturn may continue for a while longer before reaching any important support.

 

However, a junction of the 100-HMA and a one-week-old ascending trend line at 1.2995 is a formidable obstacle for USD/CAD bears.

 

In the event that the price falls below 1.2995, various levels surrounding 1.2920-10, including the high from early May and the 200-hour moving average, will attract pair sellers.

 

In contrast, a decisive breach of the aforementioned short-term resistance line of 1.3080 would require confirmation from the 1.3100 level before going for the peak of 1.3172 in late November 2020.

 

In conclusion, USD/CAD decline is not indicative of a trend reversal until the quotation breaks 1.2920.

The USD/CAD Hourly Graph

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