Published: 2025-10-17T00:33:41.000Z
Chart NZD/USD Update: Consolidating above .5700 level
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Higher in consolidation above the .5700 level as prices unwind oversold daily studies to reach resistance at .5755
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5900 | * | congestion | S1 | .5700 | * | congestion | |
| R3 | .5845/50 | ** | 6 Oct high, congestion | S2 | .5650 | * | congestion | |
| R2 | .5800 | * | Aug low | S3 | .5635 | * | 76.4% Apr/Jul rally | |
| R1 | .5755 | * | Sep low | S4 | .5600 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Higher in consolidation above the .5700 level as prices unwind oversold daily studies to reach resistance at the .5755, September low. Break here will open up room for stronger bounce to resistance at the .5800 level and August low which is expected to cap. Regaining this will fade the downside pressure and clear the way for stronger gains to retrace losses from .6000 level. Meanwhile, support at the .5700/.5683 area now underpin. Below here will see room for extension to support at the .5650/.5635 congestion and 76.4% Fibonacci level.