Published: 2025-07-07T00:39:34.000Z
Chart NZD/USD Update: Drifting lower in consolidation
Technical Analyst
2
Drifting lower in consolidation from the .6120 high as prices consolidate strong gains from the .5882, June low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6300 | ** | Aug 2024 high | S1 | .6030/00 | * | Apr high, congestion | |
| R3 | .6200/22 | * | congestion, Jun 2024 high | S2 | .5950 | * | congestion | |
| R2 | .6165 | * | 76.4% Sep/Apr fall | S3 | .5900 | * | congestion | |
| R1 | .6100/20 | ** | congestion, 1 Jul YTD high | S4 | .5882 | ** | 23 Jun low |
Asterisk denotes strength of level
00:30 GMT - Drifting lower in consolidation from the .6120 high as prices consolidate strong gains from the .5882, June low. Daily studies have are unwinding overbought readings and see scope to retest support at .6030 which extend to the .6000 figure. Break of these will open up room for deeper correction to the .5950 congestion. Corrective pullback expected to give way to renewed buying pressure later to retest the .6120, 1 July current year high. Clearance here will extend the April gains and see room to .6165 Fibonacci level and .6200/22 resistance.