well I've actually put the money where the mouth is on this just now. Shorted it in demo last night - watched that bounce around today... but have shorted 15k Aud/NZD at 1.1242 fo' real now.
Not sure that my stop loss will be as large as posted above (1.1350), now I'm thinking that I wouldnt want it to go over 1.1270 at this stage as the major trend should start to show itself quickly if this is a true breakout.