AUD/NZD tests 2022 highs after breaking consolidation – Société Générale

AUD/NZD extends gains after breaking out of consolidation, testing resistance near 1.15 with support seen around the 50-DMA at 1.13, Société Générale's FX analysts note.

AUD/NZD rally faces key hurdle at 1.1490/1.1520

"AUD/NZD has crossed the upper limit of a brief consolidation resulting in extension of up move. The pair is now challenging the 2022 peak and projections of 1.1490/1.1520, which may act as an interim hurdle."

"It will be interesting to see if AUD/NZD can establish beyond this resistance zone. Should a short-term pullback develop, the 50-DMA near 1.1300/1.1270 could be an important support."