Lingrid

AUDCAD reversal at SUPPORT zone and new GROWTH

Long
FOREXCOM:AUDCAD   Australian Dollar/Canadian Dollar
At the end of last month, the price began to fall and broke through the resistance line at 0.984. Until this moment, for several months - from October 2020 - this line acted as a support trend line for the price and directed an upward trend. However, after the breakout and consolidation on it, the price continued to fall.

The other day it came to a strong support zone of 0.973. This zone consists of a strong level and a support line formed back in July 2019. The price has already pushed away from the zone and I expect that it will continue to grow. My final target in this way is the 0.991 resistance line.

Traders, 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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