FxWirePro: USD/CAD trades in tight range as markets track Middle East conflict

• USD/CAD traded in narrow range on Thursday as investors assessing renewed tensions after fresh U.S. strikes on Iran and retaliatory strikes in the region.

•Tehran launched attacks on U.S. military infrastructure in Gulf states after U.S. strikes on Iran, which Iran's Revolutionary Guards claim is disrupting the Strait of Hormuz's gradual opening.

• Crude prices declined 1.3%, reversing gains from earlier in the session. Markets were hopeful that the new strikes would not lead to prolonged oil supply disruption even though the fragile U.S.-Iran peace deal hangs in the balance..

•Investors now await Canada's June jobs report on Friday for further clues on the BoC's policy outlook.

•  Immediate resistance is located at 1.4248(23.6%fib), any close above will push the pair towards 1.4311(Higher BB).

• Support is seen at 1.4151 (SMA 20) and break below could take the pair towards 1.4109 (38.2%fib).

Recommendation: Good to buy  around 1.4150, with stop loss of 14100,  and target price of 1.3230