AUD/USD Technical analysis.
Hello traders, AUD/USD is trading at 0.7737. The pair is trading in resistance and support wedges in an upward channel and rebounding back form support to touch its resistance level. As the price has already touched its support level and rebounding back to its resistance level, it can give a good long opportunity. The entry price will be at 0.7742, stop at 0.7696 and target at 0.7812. If the price breaks the resistance level at 0.7812, then it can touch next strong resistance level at 0.7888.
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
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.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat