The AUD/NZD has been consolidating since mid-December after price came down to and below the 1.06 handle. AUD/NZD 4H Chart 1/3(click to enlarge) The 4H chart shows some choppy sideways movement followed by a sharp bearish attempt that failed to extend the prevailing bearish trend in the short-term. Instead an equally sharp bullish swing wrapped up the end of the year and is threatening to complete a price bottom.If price pushes above 1.07, AUD/NZD would likely be in a bullish swing that has the 1.09-1.0915 area in sight. Around and above 1.09, there is a common support/resistance area as well as a falling speedline coming down from September's high. AUD/NZD Weekly Chart 1/3(click to enlarge) The weekly chart shows that AUD/NZD has been in a long-term decline, but appears to be forming a long-term Inverted Head and Shoulders since 2014. It is quite possible that the low around 1.05 was the right shoulder, and that the 1.1420 neckline area is the bullish target for the current bullish outlook. 1.14 might seem a bit aggressive when we look at the short-term charts, but seeing the bigger picture, we can say that if price stays above 1.05, the 1.14 area is a very viable target.