Published: 2025-03-10T00:24:26.000Z
Chart NZD/USD Update: Consolidating, higher later for retest of .5773
Technical Analyst
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Settled back from test of .5759 as prices consolidate gains from the .5584 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5845/50 | ** | 38.2%, Apr/Aug lows | S1 | .5700 | * | congestion | |
| R3 | .5800 | * | Nov low, congestion | S2 | .5650/40 | * | congestion | |
| R2 | .5773 | ** | 21 Feb YTD high | S3 | .5600 | * | congestion | |
| R1 | .5759 | * | 6 Mar high | S4 | .5584 | ** | 28 Feb low |
Asterisk denotes strength of level
00:25 GMT - Settled back from test of .5759 as prices consolidate gains from the .5584 low. This is expected to give way to fresh buying interest later for retest of the February YTD high at .5773. Clearance here will extend the broader gains from the .5515 current year low to retrace losses from the September high and see extension to the .5800 level. Higher still will see room to the .5845/50, 38.2% Fibonacci level and August low. Meanwhile, support at the .5700/.5670 area should underpin and sustain gains from the .5584 low of week.