Published: 2025-04-09T00:30:10.000Z
Chart NZD/USD Update: Extending losses
Technical Analyst
-
Consolidation above the .5505 low has given way to fresh selling pressure to extend losses from the .5850 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5750 | * | congestion | S1 | .5470 | ** | Mar 2020 multi-year low | |
| R3 | .5700 | * | congestion | S2 | .5400 | * | 19 Mar 2009 low | |
| R2 | .5648/50 | * | 31 Mar low, congestion | S3 | .5200 | * | congestion | |
| R1 | .5600 | * | congestion | S4 | .5000 | ** | psychological |
Asterisk denotes strength of level
00:25 GMT - Consolidation above the .5505 low has given way to fresh selling pressure to extend losses from the .5850 resistance. Lower will see room to the .5470, the 2020 multi-year low. A strong reaction can be expected here though upside expected to remain limited break here cannot be ruled out. Lower will extend the underlying bear trend from the 2011 year high. Meanwhile, resistance is at the .5600 congestion and this extend to the .5650, the 31 March low. This area is expected to cap and sustain the losses from the .5850 high.