Thoughts on NZDCAD at this range
Been watching $NZDCAD today and it's really stuck around 0.81575. We've got pretty clear resistance forming just above 0.8185, and a decent support level holding around 0.8148. It feels like we're just ranging here, consolidating after the recent moves. If it breaks either of those levels definitively, particularly the 0.8148 support, then the whole setup changes for me, and I'd be re-evaluating any short-term bullish outlook.
For now, the chop is real. Not sure if it's just building energy for a move or if this is the new normal for a bit. The risk, of course, is that it just grinds sideways for days, eating premium if you're holding options or whipsawing you out of spot positions. Definitely not a clean setup yet for a directional play, but worth keeping an eye on those boundaries.