Published: 2024-11-05T00:33:29.000Z
Chart NZD/USD Update: Remains in consolidation below the .6000 level
Technical Analyst
1
Settled back in consolidation after failing to sustain break of the .6000 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6106 | ** | Sep low | S1 | .5940 | ** | 31 Oct low | |
| R3 | .6085 | * | 21 Oct high | S2 | .5913/00 | * | 6 Aug low, congestion | |
| R2 | .6050/52 | ** | congestion, 9 Oct low | S3 | .5852/50 | ** | 19 Apr, 5 Aug YTD lows | |
| R1 | .6000/15 | * | congestion, 4 Nov high | S4 | .5775 | ** | 26 Oct 2023 year low |
Asterisk denotes strength of level
00:25 GMT - Settled back in consolidation after failing to sustain break of the .6000 level. However, daily studies remains positive having turned up from oversold areas and suggest scope for further test of the .6000/15 resistance. Break here will see stronger gains to retrace the steep losses from the September high. Higher will see room to the .6050/52 congestion and the strong resistance zone at the .6085/.6106 area. Meanwhile, support at the .5960/40 area protecting the downside. Failure here will see extension to the .5900 level then the critical .5852/.5850, April/August lows.