Chart NZD/USD Update: Higher in consolidation
Bounce attempt has seen gains checked at the .5682 resistance and see prices settling back to consolidate around .5650
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5800 | ** | Aug low | S1 | .5606/00 | * | 7 Nov low, congestion | |
| R3 | .5755 | * | Sep low | S2 | .5585 | * | 2 Jan low, congestion | |
| R2 | .5700 | * | congestion | S3 | .5550 | * | congestion | |
| R1 | .5682 | * | Oct low | S4 | .5500/85 | ** | congestion, 9 Apr YTD low |
Asterisk denotes strength of level
00:25 GMT - Bounce attempt has seen gains checked at the .5682 resistance and see prices settling back to consolidate around .5650. Consolidation is expected to give way to renewed buying interest later and break above resistance at the .5682/.5700 area will see room to extend gains from the .5606 low. Higher will see stronger gains to retrace losses from the .6007 September high to resistance at .5755/.5800, September and August lows. Meanwhile, support at .5606/00 area should underpin. Only below here will further extend the July losses and see potential for retest of the .5485, April current year low.