Published: 2025-04-04T00:42:13.000Z
Chart NZD/USD Update: Consolidating test of .5850 resistance
Technical Analyst
2
Consolidation below the .5773 resistance has given way to sharp break higher through the Mar high at .5830 to reach the .5850 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5928 | * | 29 Nov high | S1 | .5773 | * | Feb high, 2023 year low | |
| R3 | .5888 | 6 Dec high | S2 | .5700 | * | congestion | ||
| R2 | .5850 | ** | Apr/Jul lows | S3 | .5648 | ** | 31 Mar low | |
| R1 | .5830 | * | Mar high | S4 | .5600 | * | congestion |
Asterisk denotes strength of level
00:35 GMT - Consolidation below the .5773 resistance has given way to sharp break higher through the Mar high at .5830 to reach the .5850 resistance. Pullback from the latter see prices unwinding the stretched intraday studies but this is expected to give way to fresh buying interest later. Clearance here will extend the February gains to retrace the sharp losses from the September high. Meanwhile, support is raised to the .5773, February high which also marks 2023 year low. This should underpin and sustain gains from the Monday's .5648 low.