Published: 2025-03-07T00:31:51.000Z
Chart NZD/USD Update: Focus remains on .5773 high
Technical Analyst
2
Settled back from test of .5750 congestion to consolidate gains from the .5584 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5845/50 | ** | 38.2%, Apr/Aug lows | S1 | .5700 | * | congestion | |
| R3 | .5800 | * | Nov low, congestion | S2 | .5650/40 | * | congestion | |
| R2 | .5773 | ** | 21 Feb YTD high | S3 | .5600 | * | congestion | |
| R1 | .5750 | * | congestion | S4 | .5584 | ** | 28 Feb low |
Asterisk denotes strength of level
00:25 GMT - Settled back from test of .5750 congestion to consolidate gains from the .5584 low of last week. However, this is expected to give way to fresh buying interest later for retest of the February YTD high at .5773. Clearance here will extend the broader gains from the .5515 low to retrace losses from the September high and see extension to the .5800 level. Higher still will see room to the .5845/50, 38.2% Fibonacci level and August low. Meanwhile, support is raised to the .5700/.5670 area which should underpin and sustain gains from the .5584 low of week.