AUDUSD transition to falling channel
The price approached the line to support the growing channel (May 2020).
But this channel is crossed by a smaller falling channel (January 2021).
The price is ready to move from one channel to another.
Recently, the price bounced off the resistance at 0.777 and started to fall.
This is the upper line of the falling channel (January 2021).
I expect the price to drop to support.
During the fall, it will break through the support of the older growing channel (May 2020) 0.767 and fix on it.
The target is 0.760.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
But this channel is crossed by a smaller falling channel (January 2021).
The price is ready to move from one channel to another.
Recently, the price bounced off the resistance at 0.777 and started to fall.
This is the upper line of the falling channel (January 2021).
I expect the price to drop to support.
During the fall, it will break through the support of the older growing channel (May 2020) 0.767 and fix on it.
The target is 0.760.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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