Published: 2024-11-06T00:30:16.000Z
Chart NZD/USD Update: Still limited above the .6000/15 resistance
Technical Analyst
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Edged higher in choppy trade from the .5940 low gains struggling to clear the .6000/15 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6106 | ** | Sep low, 38.2% | S1 | .5940 | ** | 31 Oct low | |
| R3 | .6085 | * | 21 Oct high | S2 | .5913/00 | * | 6 Aug low, congestion | |
| R2 | .6050/52 | ** | congestion, 9 Oct low | S3 | .5852/50 | ** | 19 Apr, 5 Aug YTD lows | |
| R1 | .6000/15 | * | congestion, 4 Nov high | S4 | .5775 | ** | 26 Oct 2023 year low |
Asterisk denotes strength of level
00:25 GMT - Edged higher in choppy trade from the .5940 low gains struggling to clear the .6000/15 resistance. However, daily studies remains positive having turned up from oversold areas and suggest scope for break here to open up stronger gains to retrace steep losses from the September high. Higher will see room to the .6050/52 congestion then the strong resistance zone at the .6085/.6106 area. Meanwhile, support at the .5960/40 area protecting the downside. Failure here will see extension to the .5900 level then the critical .5852/.5850, April/August lows.