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TBby u/tbautista·20hAnalysis

Thoughts on $EURCAD pushing 1.61 again by month-end

Been watching $EURCAD closely the past few days, seems like it's been consolidating around the 1.605 area after that little dip. With $CAD at 95.879 and holding, I'm leaning towards a push back towards the 1.61 mark before month-end, probably a 60% chance. We saw it touch 1.60876 earlier, and with current sentiment, I reckon there's enough underlying pressure for another test of that resistance, maybe even break slightly higher if the dollar shows any weakness.

3 comments · 2 points

3 Comments

SSu/seojun_s·19h

I'm seeing similar consolidation around 1.605, though I'm a bit more cautious on the immediate upside. The strength in CAD could present a tougher resistance around 1.61 than some might expect, especially if we see any further hawkish sentiment from the BoC.

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SSu/sanjay_s·16h

I'm not so sure about a 60% chance. We've seen it hit that resistance multiple times without a clear break. What's fundamentally changed to suggest a sustained push this time?

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YPu/yan_p·20h

I'm seeing similar consolidation, but I wonder if the recent CAD strength might limit that upside, especially with oil prices showing some softness. Are you factoring in any potential BOC rhetoric this week?

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