Published: 2025-01-21T00:30:58.000Z
Chart NZD/USD Update: Extending gains, poised for test of .6700
Technical Analyst
1
Extending gains from the .5540 low and break above .5650/55 congestion see room for retest of the .5700 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5850/60 | * | congestion, 38.2% | S1 | .5650/55 | * | congestion, 15 Jan high | |
| R3 | .5800 | * | congestion | S2 | .5600 | * | congestion | |
| R2 | .5775 | ** | 2023 year low | S3 | .5540 | ** | 13 Jan YTD low | |
| R1 | .5700 | * | congestion | S4 | .5512 | ** | 2022 year low |
Asterisk denotes strength of level
00:25 GMT - Extending gains from the .5540 low and break above .5650/55 congestion see room for retest of the .5700 level. Positive daily and weekly studies suggest consolidation here to give way to break level to open up stronger gains to retrace the steep losses from the September high. Higher will see room to the strong resistance at the .5775/.5800 area. Beyond this will see room to the .5860, 38.2% Fibonacci level. Meanwhile, support is raised to the .5650/55 which is expected to underpin and sustain gains from the .5540 low.