AUD/NZD 4H Chart: Double Bottom

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The distinct downside trend was started by AUD/NZD in late October and helped the pair to form a double bottom pattern in last days of November. Whilst following the pattern trend-lines, the pair touched the lowest level since at least 2009 for two times but each time it managed to recover, albeit slightly.
Currently, the currency couple is moving down, confronting expectations of a jump to the neck-line after a rebound from the second drop to a record-low. However, the pattern's still may work out given that 82.86% of orders are long.
© Dukascopy Bank SA
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