Published: 2025-08-08T00:43:18.000Z
Chart NZD/USD Update: Extending gains, room to .6000 next
Technical Analyst
2
Break of the .5950 resistance see prices extending bounce from above the .5857 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6120 | ** | 1 Jul high | S1 | .5950/30 | * | congestion, 4 Aug high | |
| R3 | .6087 | * | 16 Jun high | S2 | .5900 | * | congestion | |
| R2 | .6050/60 | ** | congestion, 24 Jul high | S3 | .5850/45 | ** | congestion, May low | |
| R1 | .6000 | * | congestion | S4 | .5830 | * | 18 Mar high |
Asterisk denotes strength of level
00:30 GMT - Break of the .5950 resistance see prices extending bounce from above the .5857 low of last week. Daily studies are tracking higher from oversold areas and see room for further extension to target the .6000 level where fresh selling pressure can be expected. Clearance here, if seen, will turn focus to the .6060, 24 July high. Meanwhile, support is raised to the .5950/30 area which is expected to underpin and limit corrective pullback. Below here will fade the upside pressure and turn focus to the .5857 low and critical support at .5850/45.