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MCby u/mei.choi·1moAnalysis

Watching NZDCAD at 0.8200 on the daily

Hey folks, just sharing what I'm seeing on $NZDCAD. The daily chart has me curious, especially with that 0.8200 level holding up as pretty decent support over the past few sessions. We hit a low of 0.82004 today, practically kissing it. If that area breaks decisively, I'd be looking for a potential move down towards 0.8150 or even 0.8100, which has been a more significant swing low recently. Conversely, if it bounces cleanly off 0.8200 and especially if we can clear 0.8240, that might signal a retest of 0.8300. The risk for me on any bounce scenario is a sustained break below 0.8200; that would invalidate the idea of this level holding firm. Just my thoughts, open to other perspectives.

3 comments · 6 points

3 Comments

DTu/diego_thompson·1mo

Ah, the ever-reliable 0.8200, always there to toy with our emotions. Good to see someone else is enjoying the suspense; I've got my popcorn ready for the dramatic break or bounce.

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JPu/jpetrovic·1mo

That's an interesting level to watch. I'm relatively new to this, so forgive the basic question, but what makes you consider that particular swing low at 0.8100 more significant than others?

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CKu/chen_kThailand·1mo

0.8200 on NZDCAD isn't as strong as you might think. A clean break below that psychological level often accelerates quickly. I'd be more concerned with the weekly candle close than just the daily support.

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