AUD/NZD 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
In mid-November, the pair commenced a formation of an ascending triangle pattern that helped AUD/NZD to recover some of its previous losses. Although ascending triangle patterns often lead to a bullish breakout, AUD/NZD dived below the pattern's support several hours ago, meaning that a bearish breakout probably have occurred. If it is so, the pair is likely to test daily support lines lying at 1.1256/27 that if overcome may push a four-month low of 1.1202 back to the fore. At the same time, market sentiment gainsays this opinion, showing that 65.63% of all orders are placed to buy the pair.
© Dukascopy Bank SA
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