AUDCAD on strong RESISTANCE zone - FALLING

After the price for a long time - from October to December - moved below the support line, it finally returned to an uptrend. This trend started in July of this year and is formed by two equivalent lines - resistance from July and support from June.

The price did not break through the resistance line even once, but for the support it collapsed quite seriously in October. But at the end of last week, the price again broke through the support line at 0.965. This time already in the process of growth. And for the last few days it has been following the growing trend movement.

During this movement, the price reached the resistance line at 0.974 again. Immediately collapsed from her to support immediately grew again. Such a rapid growth-fall change may indicate a good consolidation at the resistance and the willingness of the price to fall again.

Moreover, there is also a zone near the resistance line. This zone combines two price highs. The first touch was in 2018. That is, the price is now at the point of a two-year high. It is very unlikely that she will pierce him.

Thus, I expect the price to fall towards the 0.967 support line. This is our goal.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻