Published: 2025-08-25T00:47:51.000Z
Chart NZD/USD Update: Rebound from channel support
Technical Analyst
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Saw rebound from the .5800 level and channel support to retrace recent steep losses from the .5995 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | * | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5880/00 | * | 5 Aug low, congestion | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:35 GMT - Saw rebound from the .5800 level and channel support to retrace recent steep losses from the .5995 high of last week. The resulting outside range suggest room for stronger gains to retest .5900 level then the .5950 congestion and the channel resistance from the .6120, July current year high. Break here, if seen, will reverse the April/July correction and see room for extension to the .6000 figure. Meanwhile, support is raised to the .5850 congestion which should underpin and sustain gains from the .5800 low.