Published: 2025-01-13T00:44:23.000Z
Chart NZD/USD Update: Extending losses, focus on .5512/.5470 lows
Technical Analyst
1
Prices remain under pressure and break of the .5565 support further extend losses from the September high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5775 | ** | 2023 year low | S1 | .5543 | * | 10 Jan low | |
| R3 | .5700 | * | congestion | S2 | .5512 | ** | 2022 year low | |
| R2 | .5673 | * | 20 Dec high | S3 | .5470 | ** | 2020 year low | |
| R1 | .5600 | * | congestion | S4 | .5400 | * | figure |
Asterisk denotes strength of level
00:40 GMT - Prices remain under pressure and break of the .5565 support further extend losses from the September high to reach fresh low at .5543. Nearby see the .5512 and .5470 year lows of 2022 and 2020 now within reach. The deep oversold daily and weekly studies suggest reaction on test of this area likely though bearish structure should limit corrective bounce with resistance lowered to the .5600 level. Only above here will see room for stronger bounce to the .5673/.5700 area which is expected to cap.