Dollar Dances on Thin Ice as Nvidia Consolidates

The Australian dollar (AUD) is hovering near a critical support zone of 0.6500, which has acted as a psychological barrier for AUD/USD. A break below this level could open the door to further downside, while resistance sits at 0.6600. The AUD remains sensitive to commodity prices and China's economic outlook, which have shown mixed signals this week.

Meanwhile, USD/CAD is testing the 1.3600 area, a level that has historically provided support. The Canadian dollar is being influenced by oil price fluctuations and domestic economic data. A sustained move above 1.3700 would signal bullish momentum, while a drop below 1.3500 could trigger a sell-off.

Nvidia's stock is consolidating after a recent rally, with the price action forming a bullish flag pattern. The key resistance is at $800, and a breakout could lead to a test of the all-time high near $850. Support is seen at $750, where the 50-day moving average converges.

These technical levels are crucial for short-term traders looking to enter or exit positions. For AUD/USD, the outcome of the support test could set the tone for the rest of the week, especially with the Reserve Bank of Australia's policy stance in focus. For USD/CAD, the level aligns with the Bank of Canada's rate decision expectations.