Chart NZD/USD Update: Focus on .5578/.5565 lows
Consolidation around the .5625 support has given way to renewed selling pressure and losses returning focus to the .5578 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5700/10 | ** | congestion, 22 Oct high | S1 | .5578 | * | Nov 2025 low | |
| R3 | .5680 | * | Apr low | S2 | .5565 | ** | 14 Oct YTD low | |
| R2 | .5650 | * | congestion | S3 | .5550 | * | lower channel | |
| R1 | .5625 | ** | Jun low | S4 | .5512 | ** | Oct 2022 year low |
Asterisk denotes strength of level
00:40 GMT - Consolidation around the .5625 support has given way to renewed selling pressure and losses returning focus to the .5578 support. Below here will expose the .5565 October current year low to retest and threaten extension of the broader losses from the July 2025 year high. Lower will see room to .5550 channel support but potential will be for extension to the strong support area at .5512 and extending to the .5485/.5470, 2025/2020 year lows. Meanwhile, resistance remains at .5625/50 June low and congestion area. Regaining this needed to fade the downside pressure and open up room for stronger bounce.