Published: 2025-02-18T00:30:45.000Z
Chart NZD/USD Update: Consolidating test of .5750 resistance
Technical Analyst
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Settled back from fresh high at .5750 minor resistance as prices unwind the overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5850/60 | ** | Aug low, 38.2% | S1 | .5700 | * | congestion | |
| R3 | .5800 | * | congestion, Nov low | S2 | .5622/00 | * | 30 Jan low, congestion | |
| R2 | .5773 | * | 2023 year low | S3 | .5540 | * | Jan low | |
| R1 | .5750 | * | 17 Dec low | S4 | .5515 | ** | 3 Feb YTD low |
Asterisk denotes strength of level
00:25 GMT - Settled back from fresh high at .5750 minor resistance as prices unwind the overbought intraday studies. However, consolidation here expected to give way to further gains later and higher will see room to resistance at .5773, the 2023 year low. Clearance here will open up further gains to retrace losses from the September high to the .5800 congestion then the .5860, 38.2% Fibonacci level. Meanwhile, support is raised to the .5700 level and this should underpin. Close below this will open up room for deeper correction to the .5622/.5600 support.