Chart NZD/USD Update: Poised for retest of .5578/.5565 support
Rejection from the .5625/50 resistance see prices back below the .5600 level to threaten retest of the .5578/.5565 lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5700/10 | ** | congestion, 22 Oct high | S1 | .5578 | * | Nov 2025 low | |
| R3 | .5680 | * | Apr low | S2 | .5565 | ** | 14 Oct YTD low | |
| R2 | .5650 | * | congestion | S3 | .5550 | * | lower channel | |
| R1 | .5625 | ** | Jun low | S4 | .5512 | ** | Oct 2022 year low |
Asterisk denotes strength of level
00:40 GMT - Rejection from the .5625/50 resistance see prices back below the .5600 level to threaten retest of the .5578/.5565 lows. However, oversold daily studies suggest consolidation here likely to extend before giving way to renewed selling pressure later. Break here will see room to extend the broader losses from the .6120 July 2025 year high to support at .5512 and extending to the .5485/.5470, 2025/2020 year lows. Meanwhile, resistance remains at the .5625/.5650 area. Above here needed to ease the downside pressure and open up room back to resistance at .5680 and the .5700/10 highs.