AUD/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

The AUD/USD pair starts the day with an upward rally, breaking above the 0.6780 level and indicating a potential return to the bullish trend. This movement is influenced by positive Australian economic data and supported by the stochastic indicator, suggesting a continuation of the bullish bias and aiming to achieve positive targets around 0.6924.

Therefore, further upward movement is anticipated in the upcoming sessions, unless there is a break below the 0.6780 level and a sustained hold below it.

For today's trading, the expected range is between the support level at 0.6780 and the resistance level at 0.6890.

Overall, the trend for today is expected to be bullish, but it is important to monitor the price action for any potential reversals or shifts in market sentiment.

AUD/USD - Trade Idea

Entry Price – Buy Limit 0.67819

Take Profit – 0.68930

Stop Loss – 0.67171

Risk to Reward – 1: 1.70

Profit & Loss Per Standard Lot = +$111/ -$64

Profit & Loss Per Micro Lot = +$11/ -$6