Chart NZD/USD Update: Ranging above .5580/.5578 lows
Little change, as prices extend choppy trade above the .5580/.5578 Monday and November lows after failing to clear resistance at the .5625
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5700 | * | congestion | S1 | .5578 | ** | Nov 2025 low | |
| R3 | .5680 | ** | Apr low | S2 | .5550 | * | congestion | |
| R2 | .5650 | * | congestion | S3 | .5500 | ** | figure | |
| R1 | .5625 | * | Jun low | S4 | .5485 | ** | 2025 year low |
Asterisk denotes strength of level
02:15 GMT - Little change, as prices extend choppy trade above the .5580/.5578 Monday and November lows after failing to clear resistance at the .5625, June low. Intraday and daily studies are unwinding oversold readings and suggest scope for bounce to retrace sharp losses from the August high. Clearance will open up room for stronger recovery to the .5650 congestion then the strong resistance at .5680, April low. Meanwhile, support at the .5580/.5578 lows should underpin. Only below here will see room to the .5500 figure then the critical .5485/.5470, 2025 and 2020 year lows.