© Dukascopy Bank SA
Aussie-kiwi cross has been gradually narrowing its trading range maintaining the lower boundaries at the same level. As a consequence we have a descending triangle pattern. Pattern's support is set to intersect with the pattern's resistance on the 12th of July, 19th of July. It is worth mentioning that pair is trading at the last decimal of the pattern's length thus the increased probability of a breakout. Magnitudes rating is slightly above the 90% gauge suggesting that pair should gain significant momentum once it does breach the pattern's boundaries.
© Dukascopy Bank SA