Published: 2025-10-10T00:38:53.000Z
Chart NZD/USD Update: Still heavy
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Pressure remains on the downside after choppy trade gave way to fresh selling pressure at the .5800 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5950 | * | congestion | S1 | .5730 | * | 61.8% Apr/Jul rally | |
| R3 | .5900 | * | congestion | S2 | .5700 | * | congestion | |
| R2 | .5850 | ** | congestion, 3 Apr high | S3 | .5650 | * | congestion | |
| R1 | .5800 | * | Aug low | S4 | .5635 | 76.4% Apr/Jul rally |
Asterisk denotes strength of level
00:30 GMT - Pressure remains on the downside after choppy trade gave way to fresh selling pressure at the .5800 resistance. Prices has since return to the channel support from the July high to reach .5735 low. Daily and weekly studies are still tracking lower and threatens further losses to the 61.8% Fibonacci level at .5730 and the .5700 congestion. Meanwhile, resistance is at the .5800 congestion and August low which is expected to cap. Regaining this will ease the downside pressure and see room to strong resistance at .5850.