Published: 2025-03-06T00:58:05.000Z
Chart NZD/USD Update: Focus shift to .5773, February YTD high
Technical Analyst
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Sharply higher through the .5700/.5722 resistance to open up room for retest of the .5750 congestion and .5773 February YTD high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5845/50 | ** | 38.2%, Apr/Aug lows | S1 | .5700 | * | congestion | |
| R3 | .5800 | * | Nov low, congestion | S2 | .5650/40 | * | congestion | |
| R2 | .5773 | ** | 21 Feb YTD high | S3 | .5600 | * | congestion | |
| R1 | .5750 | * | congestion | S4 | .5584 | ** | 28 Feb low |
Asterisk denotes strength of level
00:50 GMT - Sharply higher through the .5700/.5722 resistance to open up room for retest of the .5750 congestion and .5773 February YTD high to retest. Would expected reaction at the latter but positive daily studies suggest scope for break to extend the broader gains from the .5515, February YTD low. Break will open up room for extension to the .5800 level and .5845/50 resistance. Meanwhile, support is raised to the .5700/.5670 area which should now underpin and sustain gains from the .5584 low of 28 February.