Published: 2025-07-18T00:35:00.000Z
Chart NZD/USD Update: Consolidating losses this week
Technical Analyst
1
Turned up from the .5905 low as prices consolidate losses this week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| R3 | .6030/50 | ** | 3 Jul low, congestion | S2 | .5882 | ** | Jun low | |
| R2 | .6000 | * | congestion | S3 | .5850/45 | ** | congestion, May low | |
| R1 | .5975 | * | 9 Jul low | S4 | .5800 | * | 50% Apr/Jul rally |
Asterisk denotes strength of level
00:30 GMT - Turned up from the .5905 low as prices consolidate losses this week through the .6000 level. Intraday and daily studies are stretched and bounce see prices unwinding oversold readings. However, further losses cannot be ruled out to retrace gains from the April low. Lower will open up room to the .5882 and .5845, June and May lows. Meanwhile, resistance at the .5975/.6000 congestion area is expected to cap. Regaining this will ease the downside pressure and open up room for retest of the .6030/50 resistance.