Lingrid

AUDUSD FALLING after FALSE breadown

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
This currency pair experienced a rather impressive collapse in March this year. However, after the collapse, the price almost immediately started the same strong and strong growth and quickly recovered in positions.

And after that, it continued to grow. During the growth period, it broke through the 0.690 line. And this line later became a strong support for the price. The price fixed on it, pushed off and rose to the resistance zone at the intersection of two resistance lines at 0.742. As expected - after that the price dropped again. However, the resistance was not strong enough to provoke another collapse.

The price stopped again at the support line. And it already showed really strong growth, during which it was able to break through the support line 0.743. And also make a false breakdown of the resistance line 0.759.

After this false breakout, the price returned behind the line again. I expect that the price will first work out the correction to the fall and touch the resistance line again, and after that it will start to fall. Thus, I expect the final target - the support line 0.743.

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

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