The AUD/NZD was bullish in the end of July and the beginning of August, rallying from 1.0880 to 1.1317. As we can see in the 4H chart, price has since traded sideways with support made at 1.1090. AUD/NZD 4H Chart 8/19(click to enlarge) In the current session (8/19), price action has shown respect to the 1.090 support pivot. It appears that there might be a bit of a bullish bias. A break above 1.12 should open up the 1.1317 with risk of breaking higher. I like the current bounce off of 1.1090. I might not wait for the break above 1.12 to buy again. (I was long this pair last week but got out after it failed to break 1.13). If price can return to around 1.1150 I would pull the trigger. AUD/NZD Daily Chart 8/19(click to enlarge)The reason I am showing this bullish bias is because the daily chart shows a bullish market that has been consolidating since July. Now, the structure of the consolidation appears to have anchored back to the upside. If I am right, the bullish target is not just 1.13-1.1317, but also 1.14-1.1428, with even more potential upside in line with the prevailing uptrend. A break below 1.1085 could be a blow to this bullish outlook, but I would only limit the bearish outlook to the short-term and maintain the medium-term outlook as bullish.