Published: 2025-05-07T00:33:56.000Z
Chart NZD/USD Update: Foucs on the .6028, April YTD high
Technical Analyst
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Consolidation below the .6000 figure has given way to break to extend bounce from the .5900 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6165 | * | 76.4% Sep/Apr fall | S1 | .5935 | * | 23 Apr low | |
| R3 | .6100 | * | congestion | S2 | .5900 | * | congestion | |
| R2 | .6050 | * | congestion | S3 | .5850 | ** | Apr/Aug 2024 lows | |
| R1 | .6028/35 | ** | 22 Apr YTD high, 61.8% | S4 | .58700 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Consolidation below the .6000 figure has given way to break to extend bounce from the .5900 congestion. Focus now return to the .6028/35, April current year high. Just above this is the 61.8% Fibonacci level at .6035 and clearance here will extend the broader gains from the April low and see scope to the .6050 congestion. Meanwhile, support remains at .5935 and this extend to the .5900 congestion which is expected to underpin. Only failure here will open up room for deeper pullback to the previous highs at .5850/30 area.