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AUD/NZD - Following up on the Breakout and Pullback

We have been stalking the AUD/NZD since a bullish breakout to start the year. The 4H chart below shows the bullish breakout, and an eventual pullback.

AUDNZD 4H Chart 1/17

(click to enlarge)

Buy on a Dip:
- We looked at the buy on a dip strategy last week: AUD/NZD - Playing the Bullish Breakout
- The scenario is approaching trigger point.
- Targets can be 1.0550, 1.0650, and 1.0750. 
- We can put stops around 1.0410.

AUDNZD Daily Chart 1/17


(click to enlarge)

Bearish-Neutral:
- The bullish outlook in the medium-term is capped at 1.0750 because the longer term mode of AUD/NZD is bearish-neutral.
- It is a bearish market that has turned more sideways, but has not shown a bullish market yet. 
- A break above 1.08 would be a sign of a bullish market, but before that, we should respect the confluence of resistance in the 1.07-1.08 area. 

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