Published: 2025-09-01T00:45:46.000Z
Chart NZD/USD Update: Pressuring .5900 level, break in focus
Technical Analyst
2
No follow-through on break of the .5900 level last Friday but pressure stays firmly on the upside
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | * | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5900 | * | congestion, | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:35 GMT - No follow-through on break of the .5900 level last Friday but pressure stays firmly on the upside. Consolidation here expected to give way to break later to extend bounce from the .5800 low. Clearance will see room for stronger gains to resistance at the July equidistance channel and congestion at the .5930/50 area. Break here will reverse corrective pullback from the July high and see room for extension to the .6000 figure. Meanwhile, support at the .5850 congestion expected to underpin and sustain bounce from the .5800 low.