Published: 2025-02-28T00:46:55.000Z
Chart NZD/USD Update: Under pressure
Technical Analyst
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Break of the .5700 congestion extending losses to pressure strong support at the .5622/.5600 area
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5800 | * | congestion, Nov low | S1 | .5622/00 | ** | 12 Feb low, congestion | |
| R3 | .5773 | ** | 2023 year low | S2 | .5562 | 17 Jan low | ||
| R2 | .5722 | * | 24 Jan high | S3 | .5540 | * | 13 Jan low | |
| R1 | .5700 | * | congestion | S4 | .5515 | ** | 3 Feb YTD low |
Asterisk denotes strength of level
00:35 GMT - Break of the .5700 congestion extending losses to pressure strong support at the .5622/.5600 area. Would expect reaction here though daily studies are still tracking lower and see risk for break here. Below this will open up room for extension to support at .5562 and .5540. Meanwhile, resistance is lowered to the .5650/.5700 congestion area which is now expected to cap. Would need to clear this to ease the downside pressure and open up the .5722 and .5773 highs to retest.