Chart NZD/USD Update: Consolidating above .5680 fresh year low
Edged up from Friday's fresh year low at .5680 low as prices unwind oversold intraday and daily studies
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5850 | ** | congestion | S1 | .5680 | ** | 3 Apr YTD low | |
| R3 | .5800 | * | congestion | S2 | .5640 | * | trendline | |
| R2 | .5777 | * | 1 Apr high | S3 | .5606 | * | 7 Nov low | |
| R1 | .5750 | * | congestion | S4 | .5578 | ** | 21 Nov low |
Asterisk denotes strength of level
00:40 GMT - Edged up from Friday's fresh year low at .5680 low as prices unwind oversold intraday and daily studies. However, bearish structure keep pressure on the downside and a later break of .5680 low cannot be ruled out. Lower will see room for extension to support at the .5650/40, congestion and trendline from the April 2025 year low. Break here, if seen, will return focus to the .5600/.5578 congestion and November low. Meanwhile, resistance remains at the .5750/.5777 congestion and 1st April high. Clearance here will ease the downside pressure and see room for stronger gains to resistance at the .5800/.5850 area.