Daily Price Outlook

    The AUD/USD pair remains steadfast, maintaining its position above the 0.6400 mark, thus reinforcing the prevailing bullish outlook. The next primary target in sight stands at 0.6545. The current negative trajectory of the Stochastic indicator may temporarily impede upward momentum.

    However, we anticipate a shift towards a positive momentum that could bolster the pair towards the aforementioned targets. It's crucial to note that sustaining a position above 0.6400 is pivotal for the continuation of this bullish trajectory. For today, we forecast the pair to trade within a range, with support at 0.6390 and resistance capped at 0.6490.

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

    AUD/USD - Trade Idea 

    Entry Price – Buy Limit 0.64095

    Take Profit – 0.64499

    Stop Loss – 0.63835

    Risk to Reward – 1: 2

    Profit & Loss Per Standard Lot = +$404/ -$260

    Profit & Loss Per Micro Lot = +$40/ -$26



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