Published: 2025-05-29T00:45:08.000Z
Chart NZD/USD Update: Still heavy, room for deeper pullback
Technical Analyst
1
No follow-through on break of support at the .5950/35 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6100/20 | * | congestion, 11 Oct high | S1 | .5950/35 | * | congestion | |
| R3 | .6050 | * | congestion | S2 | .5900 | * | congestion | |
| R2 | .6030/35 | ** | 26 May YTD high, 61.8% | S3 | .5850/45 | ** | congestion, 12 May low | |
| R1 | .6000 | * | congestion | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:40 GMT - No follow-through on break of support at the .5950/35 congestion. Daily studies have turned down and threatens break here to see deeper pullback to congestion at the .5900 level. Below this will expose critical support at .5850/45 lows to retest. However, the latter is expected to under and limit corrective pullback. Failure will confirm a double top at the .6028/.6030 highs and see deeper pullback to retrace gains from the April low. Meanwhile, resistance remains at the .6000 congestion, clearance will open the .6030/35 high and 61.8% Fibonacci level to retest.