Published: 2025-07-08T00:36:14.000Z
Chart NZD/USD Update: Consolidating, room for deeper pullback later
Technical Analyst
1
Consolidating at the .6000 level as prices unwind oversold intraday studies following pullback from the .6120 current year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6200/22 | * | congestion, Jun 2024 high | S1 | .5988 | * | 7 Jul low | |
| R3 | .6165 | * | 76.4% Sep/Apr fall | S2 | .5950 | * | congestion | |
| R2 | .6100/20 | ** | congestion, 1 Jul YTD high | S3 | .5900 | * | congestion | |
| R1 | .6030/50 | * | 3 Jul low, congestion | S4 | .5882 | ** | 23 Jun low |
Asterisk denotes strength of level
00:30 GMT - Consolidating at the .6000 level as prices unwind oversold intraday studies following pullback from the .6120 current year high. Daily studies are unwinding overbought readings and deeper losses cannot be ruled out. Break will open up room to the .5950 congestion. Below this, if seen, will expose the .5900/.5882 congestion and June low to retest. Meanwhile, resistance is lowered to the .6030/50 previous low and congestion area which is expected to cap and sustain pressure from the high of last week. Would take break to return focus to the .6100/20 highs.