Published: 2025-07-09T00:33:44.000Z
Chart NZD/USD Update: Room to extend corrective pullback
Technical Analyst
1
Pressure remains on the downside and break of the .6000 level has seen prices reaching .5980 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6200/22 | * | congestion, Jun 2024 high | S1 | .5980 | * | 8 Jul low | |
| R3 | .6165 | * | 76.4% Sep/Apr fall | S2 | .5950 | * | congestion | |
| R2 | .6100/20 | ** | congestion, 1 Jul YTD high | S3 | .5900 | * | congestion | |
| R1 | .6030/50 | * | 3 Jul low, congestion | S4 | .5882 | ** | 23 Jun low |
Asterisk denotes strength of level
00:30 GMT - Pressure remains on the downside and break of the .6000 level has seen prices reaching .5980 low. Daily studies are unwinding overbought readings and break will open up room to the .5950 congestion. Below this, if seen, will expose the strong support at the .5900/.5882 congestion and June low. Meanwhile, resistance remains at the .6030/50 previous low and congestion area which is expected to cap and sustain pressure from the high of last week. Would take break here to revive upside focus and see room for retest of the .6100/20 highs.