AUD/NZD – Broken Range and Trendline Signals Reversal

AUD/NZD - Broken Range and Trendline Signals Reversal

The AUD/NZD has been bullish since making a low on the year at 1.0020. It pivoted from a support at 1.0035 towards the end of April and reached 1.0890 by mid-May.


For the past couple of weeks, we saw the pair in a consolidation range roughly between 1.0850 and 1.07. At the end of last week, AUD/NZD broke below this range support as well as a rising trendline from that 1.0035 pivot.

The breakout is not very clear yet as price hovers above the 100-period SMA. Let’s see if price can hold under 1.0760, or the combination of 50-period SMA a falling trendline from last week. Inability to hold below these resistance factors would signal a false break and revive the prevailing uptrend with pressure towards the 1.0850-1.0890 resistance area.

To the downside, the 1.0520-10550 support/resistance pivot area would be a first, conservative target. The 1.0315 support/resistance pivot would be the next, more aggressive bearish outlook from the current breakout signal.

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Fan Yang has been a professional forex trader and analyst since 2007. He specializes in technical analysis and has a Chartered Market Technician designation since 2011. He was the chief technical strategist at CMSFX He was also the founder and chief currency strategist at FXTimes Over the years, Fan has not only been a trader and analyst but also an educator. As a proponent of both technical and fundamental analysis in trading, Fan advocates simplicity and discipline as key factors in making trading decisions when faced with so many "clues" and "signals". Currently Fan Yang is the chief currency analyst and webinar instructor at