Currently the price is at 1.4503 it is hovering in the range of 1.4614 to 1.4152, which is its support and resistance range. If the price breaches the support level after reversing back from resistance, then it may enter into a down trend and then its nearest support and target will be at 1.3867. It might take price some time to reach at its support level as it is trading between its resistance and support levels.
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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.