Published: 2025-08-18T00:28:03.000Z
Chart NZD/USD Update: Consolidating, lower later
Technical Analyst
-
Edged up in consolidation above support at the .5900 level as prices unwind oversold intraday studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| R3 | .6050/60 | ** | congestion, 24 Jul high | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Edged up in consolidation above support at the .5900 level as prices unwind oversold intraday studies. However, rejection from the channel top last week keeps pressure on the downside with consolidation expected to give way to fresh selling pressure later. Break of the .5900 congestion will return focus to the .5857 low of 1st August then the critical support at .5850/45 congestion and May low. Meanwhile, resistance is lowered to the .5950 congestion which is expected to cap and sustain rejection from the .5995 high.