FX.co ★ Patterns AUDUSD | Australian Dollar (AUD) to US Dollar (USD) Rate in the Forex market

According to M5, AUDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.7129/0.7126 is broken out, the instrument is likely to move toward 0.7141.

The Double Bottom pattern has been formed on AUDUSD M15. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.7138 is broken. The further movements will rely on the width of the current pattern 6 points.

The Triple Bottom pattern has been formed on AUDUSD M30. It has the following characteristics: resistance level 0.7140/0.7134; support level 0.7127/0.7124; the width is 13 points. In the event of a breakdown of the resistance level of 0.7140, the price is likely to continue an upward movement at least to 0.7153.

The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.7172; the resistance level 0.7184; the width of the pattern 12 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 12 points.

According to the chart of M15, AUDUSD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.7189 and support 0.7171. In case the resistance level 0.7189 - 0.7189 is broken, the instrument is likely to follow the bullish trend.

According to the chart of M30, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.7171 – 0.7171 and upper border 0.7189 – 0.7189. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7168; the lower boundary 0.7162; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7147 level.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.7129; the lower boundary 0.7098; the width of the pattern is 30 points. Sell trades are better to be opened below the lower boundary 0.7098 with a possible movements towards the 0.7083 level.

The Triple Top pattern has formed on the chart of the AUDUSD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -3, and pattern’s width 7. Forecast If the price breaks through the support level 0.7136, it is likely to move further down to 0.7129.

The Bearish pennant pattern has formed on the AUDUSD M15 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.7146, a trader will be able to successfully enter the sell position.