Published: 2025-08-15T00:46:15.000Z
Chart NZD/USD Update: Sharp pullback from the July channel top
Technical Analyst
-
Met with selling pressure on approach of the .6000 level and July channel resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| R3 | .6050/60 | ** | congestion, 24 Jul high | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:35 GMT - Met with selling pressure on approach of the .6000 level and July channel resistance. Sharp pullback through the .5950 congestion returning focus to the downside. Support at the .5900 congestion is now under threat and break here will return focus to the .5857 low of 1st August then the critical support at .5850/45 congestion and May low where reaction can be expected. Meanwhile, resistance is lowered to the .5950 congestion which is expected to cap and sustain rejection from the mid-week .5995 high.