Published: 2025-10-06T00:54:28.000Z
Chart NZD/USD Update: Consolidating test of .5830/50 resistance, room for higher
0
-
Corrective bounce from the .5755 lower channel has seen gains checked at the .5830/50 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6000/07 | ** | 61.8%, 17 Sep high | S1 | .5800 | * | Aug low | |
| R3 | .5950 | * | congestion | S2 | .5755 | * | 26 Sep low | |
| R2 | .5900 | * | congestion | S3 | .5730 | * | 61.8% Apr/Jul rally | |
| R1 | .5830/50 | * | Mar, 3 Apr highs | S4 | .5700 | congestion |
Asterisk denotes strength of level
00:45 GMT - Corrective bounce from the .5755 lower channel has seen gains checked at the .5830/50 resistance. However, positive daily studies suggest consolidation here giving way to further gains later. Break will see room for stronger gains within the bearish channel from the July high to retrace losses from the .6007 high towards the .5900 level. Higher still, will open up room to congestion at .5950. Meanwhile, support at the .5800 level is expected to underpin and sustain gains from the .5755 low.