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AUD/NZD - Technical Levels and Price Action Analysis

The daily chart shows a market that recently broke below a consolidation range, which looks like a price top. We should respect that consolidation now at least as a general area of resistance. Now, price found support above the 1.06 support area from May. 

AUD/NZD Daily Chart 10/20
(click to enlarge)

AUD/NZD 1H Chart 10/20
(click to enlarge)

The 1H chart shows a market that broke sharply above a consolidation range, which now looks like a price bottom. Now, the bullish outlook derived from assessing this 1H chart should be limited in the short-term, and limited to around 1.09 as the aggressive target. This is taking consideration of my first suggestion - that we should respect the price top in the daily chart. 

Now, if we put a buy limit around 1.07, and our stop is below 1.0630, with a target of 1.09, we would have about a 2:1 reward to risk ratio.