Published: 2025-02-27T00:45:39.000Z
Chart NZD/USD Update: Under pressure, room for deeper pullback
Technical Analyst
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Consolidation below the .5773 resistance has given way to deeper pullback to break support the .5722/00 congestion area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5850/60 | ** | Aug low, 38.2% | S1 | .5677 | * | 19 Feb low | |
| R3 | .5800 | * | congestion, Nov low | S2 | .5622/00 | ** | 12 Feb low, congestion | |
| R2 | .5773 | ** | 2023 year low | S3 | .5540 | * | Jan low | |
| R1 | .5722 | * | 24 Jan high | S4 | .5515 | ** | 3 Feb YTD low |
Asterisk denotes strength of level
00:40 GMT - Consolidation below the .5773 resistance has given way to deeper pullback to break support the .5722/00 congestion area. Daily studies are tracking lower and see room for retest of the lower support at .5677 low of last week. Break here will open up room for deeper correction to the .5622/00 support. Pullback expected to give way to fresh buying interest later and break above the .5773 resistance will open up room to .5800 congestion. Higher still, will see extension to strong resistance at .5850/60, low of August and 38.2% Fibonacci level.