Published: 2025-07-30T00:34:32.000Z
Chart NZD/USD Update: Consolidating at .5950 support, room for lower later
Technical Analyst
-
Further extend pullback from the .6060 high to reach support at .5950
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6120 | ** | 1 Jul YTD high | S1 | .5950 | * | congestion | |
| R3 | .6087 | * | 16 Jun high | S2 | .5905/00 | ** | 17 Jul low, congestion | |
| R2 | .6060/50 | ** | 24 Jul high, congestion | S3 | .5882 | ** | Jun low | |
| R1 | .6000 | * | congestion | S4 | .5845 | ** | May low |
Asterisk denotes strength of level
00:30 GMT - Further extend pullback from the .6060 high to reach support at .5950. Consolidation here see prices unwinding oversold intraday studies but this is expected to give way to fresj selling pressure later. Break here will see room for extension to support at .5915/.5905, trendline support from the May low and 17 July low. Meanwhile, resistance is lowered to .6000 congestion which is expected to cap. Regaining this will ease the bearish pressure and see room for stronger bounce to retest .6050/60 area.