Published: 2025-09-08T00:39:10.000Z
Chart NZD/USD Update: Still capped at .5900/15 resistance
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Settled back in consolidation from retest of the .5900/15 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850/30 | * | congestion, Mar high | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | ** | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5900/15 | ** | congestion, 1 Sep high | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:30 GMT - Settled back in consolidation from retest of the .5900/15 resistance. Mixed daily studies suggest further ranging action within the bearish channel from the July high but this is expected to give way to break later to open up room for stronger recovery from the .5830/.5800 lows. Above the .5900/15 resistance will open up room for stronger bounce to the .5950/.6000 congestion. Meanwhile, support at the .5850/30 area is expected to underpin and sustain gains from the .5800 low.