Chart NZD/USD Update: Turned up from .5565 fresh year low
No follow-through on break of the .5580/78 lows and channel support as prices turned up from fresh year low at .5565 to the .5578/.5625 range area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5700 | * | congestion | S1 | .5578 | * | Nov 2025 low | |
| R3 | .5680 | ** | Apr low | S2 | .5565 | ** | 14 Oct YTD low | |
| R2 | .5650 | * | congestion | S3 | .5500 | * | figure | |
| R1 | .5625 | ** | Jun low | S4 | .5485 | ** | 2025 year low |
Asterisk denotes strength of level
00:30 GMT - No follow-through on break of the .5580/78 lows and channel support as prices turned up from fresh year low at .5565 to the .5578/.5625 range area. Daily studies remains positive having turned up from oversold areas and suggest prices tracing out a potential base here. Would take break above resistance at the .5625 June low to see room for stronger gains to retrace steep losses from the August high. Clearance will see scope to .5650 congestion then strong resistance at .5680/.5700, April low and congestion area. Meanwhile, support remains at the .5578/.5565 lows. Failure will open up room for retest of .5485, 2025 year low.