Published: 2025-10-31T00:29:53.000Z
Chart NZD/USD Update: Room for deeper pullback from .5800 resistance
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Consolidation at the .5755 support has given way to fresh selling pressure to reach .5725 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | .5900 | * | congestion | S1 | .5710/00 | * | congestion | |
| R3 | .5845/50 | ** | 6 Oct high, congestion | S2 | .5683 | ** | 14 Oct low | |
| R2 | .5800 | ** | Aug low | S3 | .5635 | * | 76.4% Apr/Jul rally | |
| R1 | .5755 | * | Sep low | S4 | .5600 | * | congestion |
Asterisk denotes strength of level
00:25 GMT - Consolidation at the .5755 support has given way to fresh selling pressure to reach .5725 low. Daily studies are unwinding overbought readings and see risk for deeper pullback to support at the .5710/00 congestion. Below this will expose the .5683 low to retest but this is expected to underpin and give way to renewed buying interest. Meanwhile, resistance is lowered to .5755. Regaining this will return focus to the .5800 level and where break will open up room for stronger gains to retrace losses from .6000 September high and channel resistance.