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AUDCAD Upward Trend 04 03 2021

Long
OANDA:AUDCAD   Australian Dollar/Canadian Dollar
AUDCAD Upward Trend 04 03 2021

One of the main lines on the chart is the support line formed in October 2020.

Despite the fact that the line is not very long, it has repeatedly reversed the price during the fall. In addition, every reversal took place with little or no correction. Recently the price dropped from the resistance line of 0.999 and is now at the support line of 0.983. At this line, the price is well entrenched and now I expect new growth. Thus, my final target is the resistance line at 1.002.

Comments

do you still think long given we are on a weekly trend? I waiting to see which structure is going to break.
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