Published: 2025-05-06T00:41:21.000Z
Chart NZD/USD Update: Lower in consolidation below .6000
Technical Analyst
1
Lower in consolidation following rejection from the .6000 figure as prices unwind the overbought intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6100 | * | congestion | S1 | .5935 | * | 23 Apr low | |
| R3 | .6050 | * | congestion | S2 | .5900 | * | congestion | |
| R2 | .6028/35 | ** | 22 Apr YTD high, 61.8% | S3 | .5850 | ** | Apr/Aug 2024 lows | |
| R1 | .6000 | * | congestion | S4 | .58700 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Lower in consolidation following rejection from the .6000 figure as prices unwind the overbought intraday studies. Pullback see support starting at .5935 and extending to the .5900 congestion which is expected to underpin. Failure to hold this will open up room for retest of the .5850 support. Recent pullback from the April YTD high at .6028 is seen corrective of the rally from the .5485 low and expected to give way to renewed buying interest later. Break above the .6000 level will expose the .6028/35 high and 61.8% Fibonacci level to retest.