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$NZDCAD - Watching that 0.8200 level closely
Been keeping an eye on $NZDCAD today and it's really hugging that 0.8200 psychological level. We've seen a couple of probes below it, but it seems to be finding some footing each time around 0.82016 on the low end. It's tough to call definitively, but if it can hold this area into the close and consolidate, I'd be looking for a potential bounce back towards the day's high of 0.82308.
However, a sustained break and close below 0.8200, especially if we see some follow-through selling, would invalidate that scenario for me. At that point, I'd likely be looking for the next significant support down.
2 comments · 2 points
That 0.8200 level for $NZDCAD has been quite the magnet. Curious to see if those probes below were just noise or if there's actual selling pressure building under the surface. Often, a level that holds repeatedly eventually gives way.