Published: 2024-12-10T00:38:55.000Z
Chart NZD/USD Update: Higher in consolidation above .5800 low
Technical Analyst
-
Saw bounce above the .5800 support to regain the .5850 , April and August lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6000 | * | congestion | S1 | .5850 | * | Apr, Aug lows | |
| R3 | .5950 | * | congestion | S2 | .5800 | ** | 26 Nov YTD low | |
| R2 | .5929 | ** | 29 Nov high | S3 | .5775 | ** | 26 Oct 2023 year low | |
| R1 | .5900 | * | congestion | S4 | .5740 | * | Nov 2022 low |
Asterisk denotes strength of level
00:30 GMT - Saw bounce above the .5800 support to regain the .5850 , April and August lows. Mixed daily studies suggest further ranging action here likely below the .5900 level. Higher still will expose strong resistance at the .5929 bounce high of late-November and where break will confirm a double bottom at the .5800 low and open up room for stronger recovery to retrace losses from the September high. Higher will see scope to .5950 and .6000 congestion. Meanwhile, strong support at the .5800/.5775, November YTD low and 2023 year low, now protecting the downside.