Currently, AUD/USD is trading at 0.7308. The pair was traded in an upward trend for some time and now it is consolidating after rebounding back from resistance zone. The pair might start a new up trend if it breaks the 0.7330 level, but it can also consolidate further before breaking that price level. If the price starts a new up trend, then its target price will be at 0.7410.
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