Published: 2025-01-17T00:28:15.000Z
Chart NZD/USD Update: Consolidating at .5600 level
Technical Analyst
-
Settled back from the .5655 high as prices consolidate bounce from the .5540 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5800 | * | congestion | S1 | .5600 | * | congestion | |
| R3 | .5775 | ** | 2023 year low | S2 | .5540 | ** | 13 Jan YTD low | |
| R2 | .5700 | * | congestion | S3 | .5512 | ** | 2022 year low | |
| R1 | .5673 | * | 20 Dec high | S4 | .5470 | ** | 2020 year low |
Asterisk denotes strength of level
00:25 GMT - Settled back from the .5655 high as prices consolidate bounce from the .5540 low. Positive daily studies suggest consolidation to give way to stronger bounce ahead to resistance at the .5673/.5700 area. Clearance here will open up stronger gains to retrace the steep losses from the September high and see room to the strong resistance at the .5775/.5800 area. Meanwhile, support remains at the .5600/.5585 area and this is expected to underpin and sustain gains from the .5540 low. Failure here will open up deeper pullback to the .5512 and .5470, the 2022 and 2020 year lows.