AUD/NZD Cup Pattern Analysis

Source: Dukascopy Bank SA
The AUD/NZD chart shows an incomplete cup formation where a rounded bottom developed between late July and mid-August (base floor at 1.1900–1.1940), followed by a sharp breakout past the former 1.2260 left rim without pausing to form a classic pre-breakout handle. Price subsequently surged to 1.2500 and is now undergoing a post-breakout pullback, directly testing dynamic support at the 20-day SMA (1.23768) with current price at 1.23938. Holding this moving average preserves immediate bullish momentum toward a retest of 1.2500 and measured expansion targets up to 1.2800, whereas a decisive breakdown below the 20 SMA risks a deeper corrective retest toward structural polarity support at 1.2260.




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