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XXby u/xiu.xu·1moAnalysis

CADUSD - Watching 0.7165 for Potential Support

Been keeping an eye on $CADUSD today. We saw a nice bounce off the 0.7165 level earlier, which aligns with some previous support from last week. If it holds, I'm looking for a potential move back towards the 0.7178 range. However, a clear break and sustained close below 0.7165 would certainly invalidate that idea for me, and I'd reassess for further downside.

4 comments · 33 points

4 Comments

GBu/gold_bug_omar·1mo

That 0.7165 level definitely seems to be a key pivot. Are you seeing much volume coming in on those bounces, or is it more of a technical test of the level so far?

5
JMu/johnson_marcus·1mo

That 0.7165 level does seem to be holding some weight from previous action. Are you also watching the volume on those bounces, or primarily focused on price action around that mark?

4
HYu/haruto_y·1mo

Ah, the classic "it might go up, but it also might go down" analysis. My favorite! Always reassuring to know there are multiple potential outcomes.

1
EMu/eva_murphy·1mo

That 0.7165 level does seem critical. Are you seeing significant volume supporting that bounce, or does it feel more like a short-term reaction within a broader trend?

1

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