Published: 2025-08-27T00:41:01.000Z
Chart NZD/USD Update: Extend consolidation below .5880/00 resistance
Technical Analyst
1
Little change, as prices drift lower in consolidation from test of resistance at the .5880/00 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | * | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5880/00 | * | 5 Aug low, congestion | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:30 GMT - Little change, as prices drift lower in consolidation from test of resistance at the .5880/00 area. Bounce from the .5800 level and channel support last week suggest room for stronger bounce within the bearish channel from the .6120, July high. Clearing the .5900 level will see room for extension to the .5950 congestion and channel resistance. Break here, if seen, will reverse corrective pullback from the July high and see room for extension to the .6000 figure. Meanwhile, support at the .5850/30 area should underpin and sustain bounce from the .5800 low.