AUDNZD inverted head and shoulder pattern?

The AUDNZD dips may be limited to the 1.0480 level as this would try to carve out the inverted shoulder pattern and that would be the right shoulder (1.0480). The pair is naturally bullish as we came out of a descending wedge last week. The neckline, or resistance will be at the 1.0554 level which is the 38% Fibonacci retracement of the November move lower.