Currently, AUD/USD is trading 0.6903. The pair is consolidating in the resistance and support levels. Previously, the pair was trading in a down trend and after touching support level , it started consolidating in the resistance and support levels. If the price breaks the resistance level at 0.6975, then it may start a new up trend and its target price will be at 0.7202. If the price breaks the support level at 0.6785, then it may start a new down trend and its target price will be at 0.6561.
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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.