Daily Trade Ideas

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

By LonghornFX Technical Analysis
Oct 3, 20231 min
Audusd

Daily Price Outlook

    The AUD/USD pair decisively penetrated the 0.6400 mark, approaching the anticipated initial bearish target of 0.6330. Market projections suggest further downward momentum, with subsequent targets at 0.6270 and then 0.6200.

    In the foreseeable future, the bearish outlook is poised to prevail, underscored by its position beneath the EMA50. It's pivotal to note that any sustained breach above 0.6400 could halt this decline, ushering in potential recovery efforts. For today's trading landscape, the AUD/USD is projected to fluctuate between a support level of 0.6280 and a resistance point of 0.6380.

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

    AUD/USD - Trade Idea

    Entry Price – Sell Limit 0.63604

    Take Profit – 0.62540

    Stop Loss – 0.64037

    Risk to Reward – 1: 1.2

    Profit & Loss Per Standard Lot = +$858/ -$412

    Profit & Loss Per Micro Lot = +$85/ -$41

    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

    JOIN LONGHORNFX TODAY

    24/7 live support, lightning fast withdrawals, guaranteed safe and reliable trading platforms with a true ECN broker.

    OPEN A NEW ACCOUNT