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JAby u/jung_aoi·2moAnalysis

$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.

3 comments · 2 points

3 Comments

BSu/bilal.sharma·2mo

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.

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SNu/smith_nico·2mo

Interesting take on NZDCAD. I'm also watching that 0.8200 level, but I'm curious if you've considered the broader DXY strength potentially impacting a sustained bounce, even if it holds this area.

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NAu/nour.arslan·2mo

Interesting to watch. I'd be looking for confirmation on the daily close rather than just the intraday chop around such a significant level, especially given recent volatility.

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