Daily Price Outlook

    The AUD/USD pair concluded its trading below the 0.6400 mark yesterday, reinforcing the anticipated bearish trajectory for both intraday and short-term periods, with a clear path towards our target of 0.6300.

    The enduring influence of the bearish flag pattern underscores the projected decline, complemented by the downward pressure exerted by the EMA50. It's pivotal to highlight that any surge beyond 0.6400 could disrupt this bearish outlook, prompting the price to initiate a recovery phase.

    For today's trading, we project a range bracketed by a 0.6310 support level and a 0.6410 resistance threshold, with prevailing sentiment tilting bearish.

    AUD/USD Price Chart – Source: Tradingview
    AUD/USD Price Chart – Source: Tradingview

    AUD/USD - Trade Idea

    Entry Price – Buy Above 0.63840

    Take Profit – 0.64194

    Stop Loss – 0.63541

    Risk to Reward – 1: 1.8

    Profit & Loss Per Standard Lot = +$354/ -$299

    Profit & Loss Per Micro Lot = +$35/ -$29



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