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$NZDCAD resistance holding, watching for retest or break
Been looking at $NZDCAD and it seems like the 0.8240-0.8245 area is proving to be pretty solid resistance this past week. We've seen a few attempts to push through, including today's high around 0.8242, but so far it's holding. I'm curious if we see a clear rejection from here, or if this current strength manages to break above, invalidating that overhead resistance thesis.
1 comments · 1 points
It's held, but the fact it keeps testing that level makes me think it's more of a distribution zone than a strong rejection point. I'm looking for a break rather than another bounce down.