Published: 2025-08-05T00:33:54.000Z
Chart NZD/USD Update: Consolidating, room for higher later
Technical Analyst
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Drifting narrowly as prices extend consolidation above the .5900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| R3 | .6060/50 | ** | 24 Jul high, congestion | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion, 50% |
Asterisk denotes strength of level
00:25 GMT - Drifting narrowly as prices extend consolidation above the .5900 level. Daily studies are unwinding oversold readings and suggest consolidation to give way to stronger bounce from the .5857 low of Friday. Nearby see resistance at .5950 ongestion and clearance here will open up room for extension to the .6000 level. Meanwhile, support at .5850/.5845 area should underpin. Failure here will see deeper pullback to retrace the April/July rally.