Published: 2025-08-07T00:37:39.000Z
Chart NZD/USD Update: Retracing losses from .6060 high
Technical Analyst
1
Consolidation around the .5900 level has given way to test higher towards resistance at .5950
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5900 | * | congestion | |
| 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 around the .5900 level has given way to test higher towards resistance at .5950. Daily studies have turned up from oversold areas and suggest scope for stronger bounce from the .5857 low of last week. Clearing the .5950 resistance will open up room for extension to the .6000 level where fresh selling pressure can be expected. Meanwhile, support is raised to the .5900 level and this is expected to underpin. Failure to hold this open up the critical support at .5850/45 to retest.