Published: 2025-04-16T00:39:25.000Z
Chart NZD/USD Update: Consolidating test of .5930, 50% Fibonacci level
Technical Analyst
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Break to fresh year high above .5850 resistance has seen extension to the .5930 resistance and 50% Fibonacci level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050 | * | congestion | S1 | .5850 | * | Aug low | |
| R3 | .6037 | * | 7 Nov high, 61.8% | S2 | .5800 | * | congestion | |
| R2 | .6000 | ** | congestion | S3 | .5772 | ** | Feb high | |
| R1 | .5930 | * | 29 Nov high, 50% | S4 | .5700 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Break to fresh year high above .5850 resistance has seen extension to the .5930 resistance and 50% Fibonacci level. Prices has since settled back to consolidate around the .5900 level to unwind the overbought intraday studies. Daily studies are stretched as well and caution corrective pullback but support at the .5850/.5800 congestion is expected to underpin. Break here, if seen, will open up room to strong support at .5772, February high. Break above the .5930 resistance will see room to the .6000 congestion.