AUDCAD stopped at strong RESISTANCE zone and FALL
Over the past few days, the price has continued to move along a strong resistance line that originates in March 2020. But the strong rise in prices is also held back by the resistance zone, the first touch of which occurred at the end of December 2020.
I expect the price to fall soon for two reasons. Firstly, it is a strong resistance zone of 0.985, and secondly, it is that since the beginning of this week the price movement is rather restrained - it cannot break through this zone. Not to mention the fact that the price has been growing since February 10, and at least should be corrected. I expect the price to fall to the 0.976 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
I expect the price to fall soon for two reasons. Firstly, it is a strong resistance zone of 0.985, and secondly, it is that since the beginning of this week the price movement is rather restrained - it cannot break through this zone. Not to mention the fact that the price has been growing since February 10, and at least should be corrected. I expect the price to fall to the 0.976 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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