Published: 2025-07-16T00:35:12.000Z
Chart NZD/USD Update: Consolidating, room for lower later
Technical Analyst
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Further extend losses from the .6120 high to reach .5938 low before settling into consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6120 | ** | 1 Jul YTD high | S1 | .5938 | 15 Jul low | ||
| R3 | .6087 | * | 16 Jun high | S2 | .5900 | * | congestion | |
| R2 | .6030/50 | * | 3 Jul low, congestion | S3 | .5882 | ** | Jun low | |
| R1 | .6000 | * | congestion | S4 | .5850/45 | ** | congestion, May low |
Asterisk denotes strength of level
00:30 GMT - Further extend losses from the .6120 high to reach .5938 low before settling into consolidation as prices unwind oversold intraday studies. However, negative daily studies suggest downside still vulnerable and lower will see room for deeper pullback to strong support at the .5900/.5882, congestion and June low. Meanwhile, resistance is lowered to the .5975/.6000 congestion area which is expected to cap. Clearance will ease the downside pressure and open up room for retest of the .6030/50 resistance.