Published: 2025-08-01T00:34:58.000Z
Chart NZD/USD Update: Extending July losses
Technical Analyst
2
Consolidation above the .5900 level has met with fresh selling pressure with prices edging lower to tag the .5882, June low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5882 | ** | Jun low | |
| R3 | .6060/50 | ** | 24 Jul high, congestion | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion, 50% |
Asterisk denotes strength of level
00:30 GMT - Consolidation above the .5900 level has met with fresh selling pressure with prices edging lower to tag the .5882, June low. Bearish momentum keeps pressure on the downside and break here will open up room to the .5850/.5845 congestion and May low. Lower still, if seen, will further extend the July losses to .5830, 18 March high, then .5800 congestion and 50% Fibonacci level. Meanwhile, resistance remains at the .5950 congestion which is expected to cap and sustain losses from the .6060 high of last week.