AUDUSD consolidate on resistance and fall

2020年12月10日

In September, the price broke through the 0.710 support line and entered the growing channel.

During the US elections, the price was quite unstable, but in the last month it has returned to the channel and is moving in it.
In addition to the lines of the channel itself, the price movement is influenced by a strong support line crossing it.
The price recently touched the resistance line (channel border) 0.748.
Rolled back.
Corrected again and touched the line.
After such a consolidation, I am confident that the next price move is a fall.
In my opinion, from the resistance line (channel border), the price will fall to the support line in the middle of the channel.
The target is 0.739.

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