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MCby u/mei.choi·11hAnalysis

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·11h

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·8h

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·8h

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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