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

The technical pattern called Head and Shoulders has appeared on the chart of AUDUSD H1. There are weighty reasons to suggest that the price will surpass the Neckline 0.6487/0.6486 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.6446.

According to the chart of M5, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6505 - 0.0000 and support 0.6493 – 0.6493. In case the resistance level 0.6493 - 0.6493 is broken, the instrument is likely to follow the bearish trend.

According 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 0.6505 - 0.0000 and support 0.6493 – 0.6493. In case the resistance level 0.6493 - 0.6493 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M15, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6510 while the median line of the Neck is found at 0.6489/0.6491. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDUSD will go towards 0.6468.

The technical pattern called Head and Shoulders has appeared on the chart of AUDUSD M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.6489/0.6492 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.6477.

The Double Bottom pattern has been formed on AUDUSD M15; the upper boundary is 0.6461; the lower boundary is 0.6452. The width of the pattern is 10 points. In case of a break of the upper boundary 0.6461, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Triple Bottom pattern has been formed on AUDUSD M5. It has the following characteristics: resistance level 0.6472/0.6469; support level 0.6465/0.6464; the width is 7 points. In the event of a breakdown of the resistance level of 0.6472, the price is likely to continue an upward movement at least to 0.6478.

On the chart of the AUDUSD M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.6481, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

On the chart of the AUDUSD M15 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.6481, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

On the chart of AUDUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6490; the lower boundary 0.6477; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6447 level.