Published: 2026-01-20T00:46:07.000Z
Chart NZD/USD Update: Room to extend bounce
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Consolidation at the .5755/35 support has given way to bounce to retest resistance at the .5800 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5910 | * | 61.8% Jul/Nov fall | S1 | .5735 | * | 19 Dec low | |
| R3 | .5850 | ** | congestion, 50% | S2 | .5715/00 | ** | 50%, congestion | |
| R2 | .5830 | * | 11 Dec high | S3 | .5685 | * | 61.8% Nov/Dec rally | |
| R1 | .5800 | ** | Aug low, congestion | S4 | .5650 | congestion |
Asterisk denotes strength of level
00:30 GMT - Consolidation at the .5755/35 support has given way to bounce to retest resistance at the .5800 level. Daily studies are unwinding oversold readings and suggest scope for break here to open up room for retest the .5850, December high and 50% Fibonacci level. Break here will extend the broader gains from the .5578, November low. Meanwhile, support at the .5755/35 area should underpin and sustain bounce from the .5715/00 support. Failure here will open up room for deeper pullback to retrace November/December rally.