FX.co ★ Patterns NZDUSD | New Zealand Dollar (NZD) to US Dollar (USD) Rate in the Forex market

According to the chart of M15, NZDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5979, the lower border is 0.5967. The signal means that a long position should be opened above the upper border 0.5979 of the Bullish Rectangle.

On the chart of the NZDUSD M5 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 0.5967, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Triple Bottom pattern has formed on the chart of NZDUSD M30. Features of the pattern: The lower line of the pattern has coordinates 0.5994 with the upper limit 0.5994/0.5953, the projection of the width is 62 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.5932, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on NZDUSD M5. It has the following characteristics: resistance level 0.5959/0.5957; support level 0.5947/0.5951; the width is 12 points. In the event of a breakdown of the resistance level of 0.5959, the price is likely to continue an upward movement at least to 0.5966.

The Bearish Flag pattern has been formed on the chart NZDUSD M15. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.5947, traders should enter the market.

The Bearish pennant pattern has formed on the NZDUSD 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 0.5947, a trader will be able to successfully enter the sell position.

According to M5, NZDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.5968/0.5971 is broken out, the instrument is likely to move toward 0.5986.

The Double Top pattern has been formed on NZDUSD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.5997 is broken, the downward movement will continue.

On the chart of the NZDUSD 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 0.5990, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 18 points.

The Bullish pennant graphic pattern has formed on the NZDUSD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.6028.