Currently, AUD/USD is trading at 0.6864. The pair started a new down trend after breaking support level and neck line at 0.6911. Previously, the pair was trading in an up trading while moving in an higher-high lower-low pattern. As the pair has already started a new down trend, its first target is at 0.6727 and second target is at 0.6613.
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Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.