Chart NZD/USD Update: Consolidating
Little change, as prices stays range-bound below the .5908 Monday's high to consolidate strong gains from the .5762 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6000/13 | * | congestion, 26 Feb high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | May high | S2 | .5815/00 | * | May low, congestion | |
| R2 | .5950 | * | congestion | S3 | .5770/62 | ** | congestion, 23 Jul low | |
| R1 | .5900 | * | congestion | S4 | .5750 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Little change, as prices stays range-bound below the .5908 Monday's high to consolidate strong gains from the .5762 low. Daily studies are mixed and suggest consolidation likely to extend above support at the .5850 congestion. Below here will open up room for deeper correction to the support at the .5815/.5800, May low and congestion area. Consolidation is expected to give way to renewed buying interest later to extend bullish gains from the .5625 June current year low. Higher will see scope to target the .5930/50 congestion area with potential for extension to retest the .5995, May high.