Lingrid | AUDCAD divergence at RESISTANCE zone. Short
The price perfectly fulfilled my last idea. It went up and hit the target. 
AUDCAD has recently tested the resistacne level and bounced back, indicating a strong defense of this key area. Notably, the price has also rejected the zone by absorbing liquidity above the previous higher high, suggesting a potential reversal. Furthermore, the daily chart is displaying a divergence at resistance, hinting that we might see a correction in the coming days. On the 4H chart, a long-tailed candlestick pattern emerged, indicating that bulls were heavily sold off, leaving us with a clear indication of market weakness at resistance. Given these factors, I expect that the price will break through the upward trendline and retest the support level, potentially leading to a reversal or consolidation. My target is support level at 0.90800
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
AUDCAD has recently tested the resistacne level and bounced back, indicating a strong defense of this key area. Notably, the price has also rejected the zone by absorbing liquidity above the previous higher high, suggesting a potential reversal. Furthermore, the daily chart is displaying a divergence at resistance, hinting that we might see a correction in the coming days. On the 4H chart, a long-tailed candlestick pattern emerged, indicating that bulls were heavily sold off, leaving us with a clear indication of market weakness at resistance. Given these factors, I expect that the price will break through the upward trendline and retest the support level, potentially leading to a reversal or consolidation. My target is support level at 0.90800Traders, 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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