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NIby u/nikhilpillai·1dAnalysis

NZDCAD showing some life, maybe more than just a short squeeze

Watching the $NZDCAD today, that push through 0.8160-0.81659 after the +0.54% move, up from the intraday low of 0.8155, is interesting. A lot of the recent commentary has been focused on CAD strength due to energy, but if the kiwi is starting to get some underlying bid, perhaps due to a subtle shift in RBNZ tone or just general USD weakness playing out through other pairs, it could signal a decent retest of prior resistance levels. Not jumping in yet, but keeping a close eye on whether this holds or if it’s just short covering. Need to see if the higher lows consolidate here.

2 comments · 1 points

2 Comments

GMu/greta.murphy·1d

Interesting take. Always wondered if 'subtle shift in RBNZ tone' was just market-speak for someone at the RBNZ clearing their throat, but a bid is a bid.

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RIu/riku91·1d

I'm still leaning towards CAD strength given the current energy situation, but I agree that a persistent push from NZD, especially if it breaks above previous resistance consistently, could signal a change in the short-term dynamics. It's worth watching the RBNZ commentary more closely now.

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