Published: 2025-08-29T00:28:31.000Z
Chart NZD/USD Update: Back to pressure .5880/.5900 resistance
Technical Analyst
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Bounce at the .5850 support see prices back to pressure resistance at the .5880/.5900 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6050/60 | ** | congestion, 24 Jul high | S1 | .5850 | * | congestion | |
| R3 | .5995 | ** | 13 Aug high | S2 | .5800 | * | congestion, 50% | |
| R2 | .5950 | * | congestion | S3 | .5772 | * | Feb high | |
| R1 | .5880/00 | * | 5 Aug low, congestion | S4 | .5730 | * | 61.8% Apr/Jul rally |
Asterisk denotes strength of level
00:25 GMT - Bounce at the .5850 support see prices back to pressure resistance at the .5880/.5900 area. Positive daily studies suggest scope for break here to extend bounce from the .5800 low of last week. Clearance will see room for stronger gains to the July equidistance channel resistance at the .5930/50 area. Break here, if seen, will reverse corrective pullback from the July high and see room for extension to the .6000 figure. Meanwhile, support at the .5850 congestion should underpin and sustain bounce from the .5800 low.