Daily Trade Ideas

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

By LonghornFX Technical Analysis
Sep 12, 20231 min
Audusd

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

    Please click here to read and acknowledge our Trade Ideas Disclaimer before using these ideas in your strategies and trading. This document’s information, including forex signals and research, is for general informational and educational purposes only and does not provide specific financial, investment, or trading advice.

    AUD/USD

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