#EURAUD 01 04 2021
Since May last year, the price has been falling in a trend that was guided by two lines - resistance, also formed in May and support, which appeared on the chart in January. At the same time, the price made false breakouts of both lines. After a strong breakdown of the resistance line, the price returned to the trend at the end of last year - it broke through the resistance at 1.606. Then it tried to break through the support line 1.537, but the fall was stopped by a strong support level. The price has been moving along this level for some time in the border of the support zone and now I expect it to rebound from it and rise to the resistance line 1.567. Then it will fall again. So my final target is the 1.537 support level.
Since May last year, the price has been falling in a trend that was guided by two lines - resistance, also formed in May and support, which appeared on the chart in January. At the same time, the price made false breakouts of both lines. After a strong breakdown of the resistance line, the price returned to the trend at the end of last year - it broke through the resistance at 1.606. Then it tried to break through the support line 1.537, but the fall was stopped by a strong support level. The price has been moving along this level for some time in the border of the support zone and now I expect it to rebound from it and rise to the resistance line 1.567. Then it will fall again. So my final target is the 1.537 support level.