Published: 2025-03-24T00:53:37.000Z
Chart NZD/USD Update: Consolidating, scope for lower
Technical Analyst
2
Extending consolidation at the .5722 low but negative daily studies see scope for deeper pullback to the .5700 congestion and .5676 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5845/50 | ** | 38.2%, Apr/Aug lows | S1 | .5722/00 | * | 20 Mar low, 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 - Extending consolidation at the .5722 low but negative daily studies see scope for deeper pullback to the .5700 congestion and .5676 low of last week. However, corrective pullback expected to give way to fresh buying interest later and see resistance starting at the .5773, February high. Regaining this needed to return focus to the upside for retest of the .5800 level and the .5830 high. Clearance here will extend gains from the February low and see room to the strong resistance at .5845/50, 38.2% Fibonacci level and April/August lows.