Chart NZD/USD Update: Edged up in range from .5933 mid-week low
Little change, as prices turned up in range from the .5933 low to consolidate around .5950 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6092 | ** | 29 Jan YTD high | S1 | .5900 | * | congestion | |
| R3 | .6000/13 | * | congestion, 26 Feb high | S2 | .5850 | * | congestion | |
| R2 | .5995 | ** | May high | S3 | .5815 | ** | May low | |
| R1 | .5988 | * | 21 Aug high | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Little change, as prices turned up in range from the .5933 low to consolidate around .5950 congestion. Daily studies have turned lower to unwind overbought readings and suggest scope for deeper pullback from the .5988 high of last Friday. Lower will see room further retrace recent strong gains from the .5820 low of 13 August to the .5900 support. Corrective pullback is expected to give way to renewed buying interest later to extend the bullish gains from the June low. Above the .5988 high will open up room to .5995 May high then the .6000 figure. Clearance here will turn focus to the .6092 January current year high.