AUDUSD 16 03 2021
The price movement is determined by the support and resistance lines that appeared on the chart last spring. These lines give a small upward bias to the price so that it continues to rise all this time. At the beginning of the year, another one joined the main lines of the chart - formed at the point 0.782 during a small downtrend. Now the price is in the resistance zone, which was formed at the intersection of the March 2020 trend line and the small support line from January 2021. We expect the price to start rising from this 0.772 zone, during which it will reach the resistance line 0.798
The price movement is determined by the support and resistance lines that appeared on the chart last spring. These lines give a small upward bias to the price so that it continues to rise all this time. At the beginning of the year, another one joined the main lines of the chart - formed at the point 0.782 during a small downtrend. Now the price is in the resistance zone, which was formed at the intersection of the March 2020 trend line and the small support line from January 2021. We expect the price to start rising from this 0.772 zone, during which it will reach the resistance line 0.798
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.