Will This Be the End for the EUR/NZD Range?

The range visible on the EUR/NZD weekly time-frame between 1.7000 and 1.5800 has lasted for months now, but it appears that it might finally end soon since the pair formed a shooting star candlestick on the same time-frame and started moving to the downside weeks ago. It is currently testing the support at 1.5800, something that has happened twice already. Hopefully the third time will be the charm. If EUR/NZD does break below that level, I expect that the next long-term target on its way down would be around 1.5000. Obviously if the pair bounces off the support the range will continue for the foreseeable future.