• AUD/NZD is on the way to complete the M-formation's target at the neckline. 
• Wycoff methodology plays out in the mark-up phase. 

The price of AUD/NZD is making fresh highs on a break of accumulation resistance as per the 1-hour time frame. The pair has completed a significant phase of the Wycoff methodology as illustrated in a series of analyses since Oct 18 that has tracked the consolidation:

• AUD/NZD Price Analysis: Traders, don't get caught out!
• AUD/NZD Price Analysis: Bulls waiting to pounce
• AUD/NZD Price Analysis: Accumulation is occurring, bulls taking over
• AUD/NZD Price Analysis: Bulls struggle to catch a breakout

AUD/NZD prior analysis, 1HR chart

In the above chart, it was illustrated that the price was working its way through the various stages of the Wycoff method. A breakout to the upside was expected and it too today's CPI data to finally see this occur:

The price has rallied and broken out of the resistance and as per Wycoff, we can now expect a mark-up and the prospects of a test of the daily M-formation's neckline as a target:

AUD/NZD, prior daily analysis

''The market is moving sideways and a trapped environment between hourly support and resistance but there are prospects of a bullish breakout to test the neckline of the following daily M-formation at 1.0524:

AUD/NZD live market, daily chart