#AUDCAD 01 04 2021
After breaking through the historically strong level of 0.974 during the fall, the price returned to the zone of strong support, which is formed by two lines: July and February 2020. It is important to note that the February 2020 support line served as the basis for the price rise from 0.925 in October last year. And it was during the growth from this line that the price was able to break through the resistance level. This is an additional factor in the strength of the support zone. Now the price is in position 0.950. I expect it to bounce off it and rise - taking into account the corrections, of course - to the strong resistance zone of 0.974. This will be our goal.
After breaking through the historically strong level of 0.974 during the fall, the price returned to the zone of strong support, which is formed by two lines: July and February 2020. It is important to note that the February 2020 support line served as the basis for the price rise from 0.925 in October last year. And it was during the growth from this line that the price was able to break through the resistance level. This is an additional factor in the strength of the support zone. Now the price is in position 0.950. I expect it to bounce off it and rise - taking into account the corrections, of course - to the strong resistance zone of 0.974. This will be our goal.