Published: 2025-08-20T00:38:12.000Z
Chart NZD/USD Update: Room to extend losses
Technical Analyst
2
Consolidation above the .5900 level has given way break to extend losses from the .5995 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .6087 | * | 16 Jun high | S1 | .5875 | * | 38.2% Apr/Jul rally | |
| R3 | .6050/60 | ** | congestion, 24 Jul high | S2 | .5850/45 | ** | congestion, May low | |
| R2 | .6000 | * | congestion | S3 | .5830 | * | 18 Mar high | |
| R1 | .5950 | * | congestion | S4 | .5800 | * | congestion, 50% |
Asterisk denotes strength of level
00:35 GMT - Consolidation above the .5900 level has given way break to extend losses from the .5995 high of last week. Negative daily and weekly studies highlights risk for further losses to target the .5875, 38.2% Fibonacci level. Below this will expose strong support at the .5850/.5845, congestion and May low to retest. Lower still, will see room for further losses to the .5830/00 area. Meanwhile, resistance remains at the .5950 congestion which is expected to cap and sustain losses from the .5995 high.