Published: 2025-07-23T00:42:03.000Z
Chart NZD/USD Update: Retracing losses from .6120, current year high
Technical Analyst
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Consolidation below the .6000 level has given way to break to retrace losses from the .6120, current year high.
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6165 | * | 76.4% Sep/Apr fall | S1 | .5950/40 | * | congestion | |
| R3 | .6120 | ** | 1 Jul YTD high | S2 | .5905 | * | 17 Jul low | |
| R2 | .6087 | * | 16 Jun high | S3 | .5882 | ** | Jun low | |
| R1 | .6030/50 | ** | 3 Jul low, congestion | S4 | .5850/45 | ** | congestion, May low |
Asterisk denotes strength of level
00:30 GMT - Consolidation below the .6000 level has given way to break to retrace losses from the .6120, current year high. Intraday and daily studies are tracking higher and suggest room for extension to the strong resistance at .6030/50 area. Would need to clear this to return focus to the upside for retest of the .6087 and .6120 highs. Meanwhile, support is at the .5950/40 congestion which is expected to underpin and sustain bounce from the .5905 low. Failure here will threaten .5882 and .5845 lows.