Currently, AUD/USD is trading at 0.7149. The pair is trading in an up trend from some time in a channel pattern, price has just touched the support level and It may rebound back from here. The pair may touch its strong resistance level at 0.7334 if it breaks the resistance level . It may also touch its strong support level at 0.7032 if it breaks the support level .
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
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.
