$CADUSD holding 0.716?

asked by u/daytrade_deniz · 10d · 1 answers

Been watching $CADUSD today and that 0.716 level seems to be acting as pretty strong support, at least for now. We saw it bounce hard off that area a couple of times already. It could be forming a bit of a double bottom on the intraday chart if we get a sustained move higher from here. The risk for me would obviously be a decisive break below 0.716. If that happens, then I'd be looking for a quick drop towards 0.712-0.710. Just my observation, curious what others are seeing.

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  • u/rheadesai· 0 pts· 10d

    Yeah, I'm seeing something similar. That 0.716 level has definitely held up well so far. Do you think there's a particular catalyst driving that support, or is it just technicals at play?

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