AUDCAD false breakdown - will FALL

Since July, the price has been moving in a downtrend within two lines: resistance and support. Having made significant breakouts of these lines only a few times, but rather soon returning to their boundaries.

Now we see that the price has broken through the upper border of the channel - the resistance line and rose above it. At the end of this movement, the price came to a strong resistance zone around the level of 0.956.
Here, in addition to the level, there is also a strong resistance line formed in May 2020.



Despite the fact that the price has broken through the line and the channel, I am confident that it will fall. Since the resistance zone is older and stronger than the channel itself. So the breakout is false.

I think the price will fall towards the support line around 0.938.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻