Published: 2025-10-08T00:39:40.000Z
Chart NZD/USD Update: Under pressure
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Consolidation within the .5850/.5800 area has given way to selling pressure below the .5850 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6000/07 | ** | 61.8%, 17 Sep high | S1 | .5755 | ** | 26 Sep low | |
| R3 | .5950 | * | congestion | S2 | .5730 | * | 61.8% Apr/Jul rally | |
| R2 | .5900 | * | congestion | S3 | .5700 | * | congestion | |
| R1 | .5850 | * | congestion, 3 Apr high | S4 | .5650 | congestion |
Asterisk denotes strength of level
00:30 GMT - Consolidation within the .5850/.5800 area has given way to selling pressure below the .5850 resistance. Break of tyhe .5800 level return focus to the downside and see scope for retest of the .5755 low and further extend losses from the .6120, July high. Lower will see room for extension to .5730, 61.8% Fibonacci level and channel support. Meanwhile, resistance at the .5830/50 area expected to cap. Break here needed to open up room for stronger gains to retrace losses from the .6007, September high.