Chart NZD/USD Update: Consolidating sharp losses
Turned up in range just above support at the .5700 congestion as prices consolidate recent sharp losses from the .5900 level
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5900 | ** | congestion, 4 Sep high | S1 | .5700 | * | congestion | |
| R3 | .5850 | * | congestion, 200-day MA | S2 | .5680 | ** | Apr low | |
| R2 | .5800 | ** | congestion | S3 | .5650 | * | congestion | |
| R1 | .5750 | * | congestion | S4 | .5625 | ** | 26 Jun YTD low |
Asterisk denotes strength of level
00:35 GMT - Turned up in range just above support at the .5700 congestion as prices consolidate recent sharp losses from the .5900 level. Bounce see resistance starting at .5750 congestion and extending to mid-week range high at .5765. Above here will see scope to strong resistance at .5800 level which is expected to cap. Break here, if seen, will revive upside focus and see stronger gains to retrace losses from .5988, August high. Meanwhile, break of the .5700 level will see room to extension to retest the April low at .5680. Below here will see potential for retest of the .5625, June current year low.