Published: 2025-08-26T00:31:42.000Z
Chart NZD/USD Update: Consolidating test of .5880/00 resistance
Technical Analyst
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Settled back from test of resistance at the .5880/00 area to consolidate strong bounce from the .5800 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | * | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5880/00 | * | 5 Aug low, congestion | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:30 GMT - Settled back from test of resistance at the .5880/00 area to consolidate strong bounce from the .5800 low. The resulting outside range suggest room for further gains ahead and clearing the .5900 level will see room for extension to the 5950 congestion and channel resistance from the .6120, July high. Break here, if seen, will reverse corrective pullback from the April high and see room for extension to the .6000 figure. Meanwhile, support is raised to the .5850 congestion which should underpin and sustain gains from the .5800 low.