Technical Analysis

AUD/USD Price Analysis – April 11, 2023

By LonghornFX Technical Analysis
Apr 11, 20231 min

Daily Price Outlook

The AUDUSD pair has decisively broken the 0.6665 level and settled below it, suggesting potential negative pressure in the upcoming sessions. However, the price has started today with noticeable positivity, testing the mentioned level due to the positive momentum from the stochastic indicator, indicating an attempt to resume the bullish trend.

As a result, it is preferable to remain on the sidelines until the price confirms its position concerning the 0.6665 level. It is important to note that maintaining below this level will primarily put pressure on the price to decline towards 0.6550, while surpassing it will be the key to initiating a new bullish wave with initial targets at 0.6780.

Today's expected trading range is between 0.6600 support and 0.6720 resistance.

 AUD/USD Price Chart - Source: Tradingview

AUD/USD Trade Idea

Entry Price – Sell Below 0.6675

Stop Loss – 0.6710

Take Profit – 0.6619

Risk to Reward – 1 : 1.60

Profit & Loss Per Standard Lot = +$550/ -$340

Profit & Loss Per Micro Lot = +$55/ -$34


    * GOLD Price Analysis – April 11, 2023

    * GBP/USD Price Analysis – April 11 2023

    * AUD/USD Price Analysis – April 06, 2023



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