Hello traders, AUD/USD is trading at 0.7776. The price is trading in a downward resistance and support wedges. It has touched its resistance level and hence it can rebound back from here to continue trading in downward resistance and support wedges. If the price breaks 0.7749 price level, it can start a new down trend and then its first target will be at 0.7705 and second target will be at 0.7648.
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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