AUDUSD fall after resistance breakdown
After a strong fall in the spring of last year, the price formed an upward trend.
The basis of growth is the support line, which the price touched for the first time at point 0.620.
The upper border of the trend is the resistance line (also from spring 2020).
However, another resistance line formed in the middle of the channel.
The price stays with her more often.
This line was also formed in March 2020.
In December, the price broke through it during the growth at the point 0.758.
Recently, the price broke through the resistance during the fall at 0.707.
The price worked out the correction and consolidated at the resistance of 0.775.
After that, I expect to fall to support.
The target is 0.752.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
The basis of growth is the support line, which the price touched for the first time at point 0.620.
The upper border of the trend is the resistance line (also from spring 2020).
However, another resistance line formed in the middle of the channel.
The price stays with her more often.
This line was also formed in March 2020.
In December, the price broke through it during the growth at the point 0.758.
Recently, the price broke through the resistance during the fall at 0.707.
The price worked out the correction and consolidated at the resistance of 0.775.
After that, I expect to fall to support.
The target is 0.752.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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