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

According to the chart of H1, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6592 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -41 pips.

According to the chart of M5, AUDUSD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.6610 while the median line of the Neck is found at 0.6599/0.6603. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDUSD will go towards 0.6625

The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.6609; the resistance level 0.6613; the width of the pattern 4 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 4 points.

According to the chart of M15, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6599 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -17 pips.

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 0.6613 - 0.0000 and support 0.6599 – 0.6599. In case the resistance level 0.6599 - 0.6599 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6595 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has formed on the chart of the AUDUSD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.6669/0.6668.

According to the chart of M5, AUDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.6661 – 0.6661 and upper border 0.6669 – 0.6669. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M15, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6660/0.6666 whereas the upper border goes across 0.6675/0.6666. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDUSD will breach the upper border to head for 0.6689.

The Triple Top pattern has formed on the chart of the AUDUSD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 2, support level -3, and pattern’s width 19. Forecast If the price breaks through the support level 0.6657, it is likely to move further down to 0.6653.