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
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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