Published: 2026-02-23T00:40:57.000Z
Chart NZD/USD Update: Extend choppy trade above .5950 support
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No follow-through on break of support at the .5950 congestion and bounce from the .5938 low see prices back to retest .6000 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6093 | ** | 29 Jan YTD high | S1 | .5950 | * | congestion | |
| R3 | .6076 | * | 12 Feb high | S2 | .5928 | ** | 6 Feb low | |
| R2 | .6050 | * | congestion | S3 | .5900 | * | 38.2% Nov/Jan rally | |
| R1 | .6000 | * | figure, congestion | S4 | .5853/50 | ** | Dec high, congestion |
Asterisk denotes strength of level
00:30 GMT - No follow-through on break of support at the .5950 congestion and bounce from the .5938 low see prices back to retest .6000 level. Regaining this will open up room for retest of resistance at the .6050 congestion which is expected to cap and further extend choppy price action within the .6050/.5950 area. Close above this needed to expose the .6076 and .6093 highs to retest. Meanwhile, support remains at the .5950 congestion. Would take break here to expose the .5938 and .5928 lows to retest and see deeper pullback to retrace the November/January rally.