Published: 2025-05-15T00:35:01.000Z
Chart NZD/USD Update: Lower in consolidation
Technical Analyst
-
Failed to sustain break of the .5935 resistance as prices settled back to consolidate around the .5900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6035 | * | 61.8% Sep/Apr fall | S1 | .5900 | * | congestion | |
| R3 | .6028 | ** | 22 Apr YTD high | S2 | .5850 | ** | Apr/Aug 2024 lows | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | Mar high | |
| R1 | .5935 | * | 23 Apr low, congestion | S4 | .5800 | * | congestion |
Asterisk denotes strength of level
00:30 GMT - Failed to sustain break of the .5935 resistance as prices settled back to consolidate around the .5900 level. Daily studies remains positive and suggest scope for further probes higher to the .6000 congestion. Would need to clear this to open up room for retest of the .6022/.6028, 7 May and 22 April highs. Meanwhile, support starts at the .5900 congestion and this extend to the .5850 low which is expected to underpin. Break here will open up room for deeper pullback to retrace the April rally to support at .5830/.5800 area.