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FX.co ★ AUDUSD M15: Bearish Rectangle

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Technical Analysis Patterns

2024-04-16T13:04:39
Signal strength 2 of 5

AUDUSD M15: Bearish Rectangle

Bearish RectangleAccording to the chart of M15, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6429 - 0.0000 and support 0.6409 – 0.6409. In case the resistance level 0.6409 - 0.6409 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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