AUD/USD Technical Analysis.

FX:AUDUSD   Australian Dollar / U.S. Dollar
Currently, AUD/USD is trading at 0.6864. The pair started a new down trend after breaking support level and neck line at 0.6911. Previously, the pair was trading in an up trading while moving in an higher-high lower-low pattern. As the pair has already started a new down trend, its first target is at 0.6727 and second target is at 0.6613.

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Thank you,

Rishikesh Lilawat


New trader quick question?? How do you determine first target 0.6272 and 2nd target. Just curious, trying to learn.
rishililawat5 memphistory1976
@memphistory1976, Hi, my first target is at 0.6727. So basically we look for the best possible support or resistance levels in the near terms and accordingly decide our trading targets. The resistance and support levels are those price points from where previously price had rebounded. I mostly use fibonacci tool to mark and identify my price points.
rishililawat5 memphistory1976
@memphistory1976, I hope this helps, Thanks for your comment and like.
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