Chart NZD/USD Update: Consolidating beneath .5995 resistance
Little change, as prices settled back in range from the .5988 high of last Friday to consolidate gains from the .5821 swing low of 13 August
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6092 | ** | 29 Jan YTD high | S1 | .5950 | * | congestion | |
| R3 | .6050 | * | congestion | S2 | .5900 | * | congestion | |
| R2 | .6000/13 | * | congestion, 26 Feb high | S3 | .5850 | * | congestion | |
| R1 | .5995 | ** | May high | S4 | .5815 | ** | May low |
Asterisk denotes strength of level
00:30 GMT - Little change, as prices settled back in range from the .5988 high of last Friday to consolidate gains from the .5821 swing low of 13 August. Pause here expected to give way to renewed buying interest later to extend bullish gains from .5625 June current year low. Nearby see room to target the May high at .5995 then the .6000 figure, clearance will see room for extension to the .6050 congestion but potential will be for retest of .6092 January YTD high. Meanwhile, support remains at the .5950 level which should underpin and sustain bullish bounce the past two weeks.