Chart NZD/USD Update: Consolidating retest of .5578 low
Turned up from test of the .5578 low as prices consolidate sharp losses from the .5700/10 highs
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5700/10 | ** | congestion, 22 Oct high | S1 | .5578 | * | Nov 2025 low | |
| R3 | .5680 | * | Apr low | S2 | .5565 | ** | 14 Oct YTD low | |
| R2 | .5650 | * | congestion | S3 | .5512 | ** | Oct 2022 year low | |
| R1 | .5625 | * | Jun low | S4 | .5485 | ** | Apr 2025 year low |
Asterisk denotes strength of level
00:35 GMT - Turned up from test of the .5578 low as prices consolidate sharp losses from the .5700/10 highs. However, the downside remains vulnerable and consolidation expected to give way to fresh selling pressure later. Below the .5578 November low will expose the 14 October current year low at .5565 to retest and threatens extension of the broader losses from the July 2025 year high. Lower, if seen, will open up room to strong support area starting at .5512 down to .5485/.5470, 2025/2020 year lows. Meanwhile, resistance at the .5625/.5650 June low and congestion area are expected to cap. Above here will fade the downside pressure and open up room for retest of .5680/.5710 resistance.