USDCAD Daily Outlook 03-09-20 – On Wednesday the Fed’s Barkin said the U.S. economy will need sustained support, we found out that the U.S. factory orders climbed 6.4% in July in a third straight increase, Spain’s unemployment has risen amid new COVID outbreaks and tourist restrictions, and that the U.K. house prices surged to an all-time high in August.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Thursday we’ll be eyeing Canada’s trade balance for July.
Today I’m looking at the USD/CAD pair which appears to have found support at 1.30. This level has acted as a support multiple times since October 2018. If we see a rise in the next few days, we could expect the pair to bottom out here and start a new uptrend.
On the other hand, a break below 1.30 could open doors for further drops towards 1.26.
Do you think the pair is ready to bottom out?
Head over to the comments section and let me know.
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