Published: 2025-08-06T00:33:16.000Z
Chart NZD/USD Update: Consolidating around .5900, room for higher later
Technical Analyst
2
Little change, as prices extend consolidation around the .5900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| R3 | .6060/50 | ** | 24 Jul high, congestion | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion, 50% |
Asterisk denotes strength of level
00:25 GMT - Little change, as prices extend consolidation around the .5900 level. Intraday and daily studies remains positive and suggest scope for stronger bounce from the .5857 low of last week. Nearby see resistance at the .5950 congestion and clearance here will open up room for retest of the .6000 level. Meanwhile, support at .5850/.5845 area is expected to underpin. Failure to hold this support will confirm a 3-month top pattern at the .6120 high and open up room for deeper pullback to retrace the April/July rally.