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

The Double Bottom pattern has been formed on AUDUSD M30. 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 0.6407 is broken. The further movements will rely on the width of the current pattern 32 points.

The Double Top pattern has been formed on AUDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.6399 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDUSD M15; the upper boundary is 0.6386; the lower boundary is 0.6376. The width of the pattern is 11 points. In case of a break of the upper boundary 0.6386, 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 Double Bottom pattern has been formed on AUDUSD M5. 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 0.6395 is broken. The further movements will rely on the width of the current pattern 8 points.

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6415; the lower boundary 0.6403; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6381 level.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6405; the lower boundary 0.6386; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6371 level.

According to the chart of M15, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.6374 – 0.6374 and upper border 0.6390 – 0.6390. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Bottom pattern has formed on the chart of AUDUSD M30. Features of the pattern: The lower line of the pattern has coordinates 0.6373 with the upper limit 0.6373/0.6370, the projection of the width is 20 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 0.6353, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.6373/0.6370; support level 0.6353/0.6345; the width is 20 points. In the event of a breakdown of the resistance level of 0.6373, the price is likely to continue an upward movement at least to 0.6375.

According to the chart of M5, AUDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.6353 while the median line of the Neck is set at 0.6368/0.6369. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of AUDUSD will go towards 0.6384.