Published: 2025-03-21T00:44:11.000Z
Chart NZD/USD Update: Consolidating sharp pullback
Technical Analyst
-
Bounce from the .5722 low see prices consolidating sharp pullback through the .5773 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5845/50 | ** | 38.2%, Apr/Aug lows | S1 | .5700 | * | congestion | |
| R3 | .5830 | * | 18 Mar YTD high | S2 | .5676 | ** | 11 Mar low | |
| R2 | .5800 | * | congestion | S3 | .5650 | * | congestion | |
| R1 | .5773 | * | Feb high | S4 | .5584 | ** | 28 Feb low |
Asterisk denotes strength of level
00:35 GMT - Bounce from the .5722 low see prices consolidating sharp pullback through the .5773 support. Daily studies have turned down from overbought areas and suggest room for deeper pullback to the .5700 congestion and .5676 low of last week. Corrective pullback is expected to give way to fresh buying interest later and regaining the .5773 will return focus to the upside for retest of the .5800 level and the .5830 high. Clearance here will see room to the strong resistance at .5845/50, 38.2% Fibonacci level and April/August lows. Higher still, will turn focus to the .5900/28 congestion and 29 November high.