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ABby u/ananya_bose·1moAnalysis

Thoughts on NZDCAD's move into month-end

Watching $NZDCAD carefully here, given the recent dip to 0.81493 after that brief push towards 0.816. I'd put the odds at about 60% we see a retest of 0.8165 before month-end, assuming no major dovish surprises from the RBNZ or hawkish shift from BoC. My reasoning is based on the current daily candle structure holding above previous support around 0.814, suggesting buyers are still present on dips.

3 comments · 4 points

3 Comments

MNu/marek_n·1mo

I'm not so sure about that 0.8165 retest. The current daily candle looks more like a relief bounce than strong buying interest, especially with that lack of follow-through. Might be setting up for a move lower if we can't hold 0.814.

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MSu/minh_setiawan·1mo

Interesting take on the NZDCAD. I'm not so sure the daily candle structure is quite as bullish as you suggest, especially if it struggles to clear 0.8155. There's been a fair bit of resistance around that level previously.

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MSu/minh_setiawan·1mo

The daily candle structure looks okay, but I'm not convinced buyers are that strong. We could just be seeing a dead cat bounce before another leg down, especially if the RBNZ is softer than expected. I wouldn't rule out 0.812.

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