Chart NZD/USD Update: Consolidating test of .5715/00 support
Steadied at the .5715/00 support as prices unwind oversold intraday studies and consolidate losses from the .5850 December high.
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5850 | ** | 50% Jul/Nov fall | S1 | .5715/00 | * | 50%, congestion | |
| R3 | .5830 | * | 11 Dec high | S2 | .5685 | * | 61.8% Nov/Dec rally | |
| R2 | .5800 | ** | Aug low, congestion | S3 | .5650 | congestion | ||
| R1 | .5755 | * | congestion | S4 | .5606 | * | 7 Nov high |
Asterisk denotes strength of level
00:30 GMT - Steadied at the .5715/00 support as prices unwind oversold intraday studies and consolidate losses from the .5850 December high. However, negative daily studies highlight risk for further losses later and break of support at the .5715/00, 50% Fibonacci level and congestion area cannot be ruled out. Corrective pullback is expected to give way to renewed buying interest later with resistance starting at .5755 then the .5800 level. Would need to regain the latter to clear the way for retest of resistance at .5830/.5850 area. Break here will extend the broader gains from .5578 November low to retrace losses from the .6120, July 2025 year high.