Published: 2025-04-07T00:52:55.000Z
Chart NZD/USD Update: Consolidating test of .5515/.5512 support
Technical Analyst
1
Weak start see prices extending sharp losses last week to reach towards the critical .5515/.5512, February YTD and 2022 year lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5750 | * | congestion | S1 | .5515 | ** | 3 Feb YTD low | |
| R3 | .5700 | * | congestion | S2 | .5512 | ** | Oct 2022 year low | |
| R2 | .5648/50 | * | 31 Mar low, congestion | S3 | .5470 | ** | Mar 2020 year low | |
| R1 | .5600 | * | congestion | S4 | .5400 | * | 19 Mar 2009 low |
Asterisk denotes strength of level
00:45 GMT - Weak start see prices extending sharp losses last week to reach towards the critical .5515/.5512, February YTD and 2022 year lows. Consolidation here is expected but this is likely to give way to further selling pressure later. Lower will open up room for extension to retest the 2020 year low at .5470. Lower still will see scope to the .5400 level. Meanwhile, resistance is lowered to the .5600 congestion which is expected to cap. Above here will ease the downside pressure and see room for stronger bounce to the .5650/.5700 congestion area.