Daily Price Outlook

- AUD/USD trades at 0.68568, facing immediate resistance at 0.6856 and higher levels at 0.6909 and 0.6990.

- Bullish sentiment indicated by RSI at 67 and trading above the 50 EMA of 0.6842.

- The overall market trend remains bullish above $0.6785, pointing towards potential upward movement.

In the currency market, the Australian Dollar (AUD/USD) is exhibiting signs of strength, marking an upward trend. As of December 28, the pair is trading at 0.68568, registering a gain of 0.11%. This upward trajectory positions the AUD/USD pair within a key technical framework, providing insights into potential future movements.

The immediate resistance level for the pair is at 0.6856, followed by further resistance points at 0.6909 and 0.6990. These levels will be crucial to watch as they could cap any further gains. On the downside, the pair finds immediate support at 0.6713, with subsequent support levels at 0.6636 and 0.6586. These support levels will play a key role in providing a safety net against any potential downward moves.

The Relative Strength Index (RSI) for AUD/USD stands at 67, indicating a bullish market sentiment without reaching overbought territory. This suggests that there might still be room for further appreciation. The Moving Average Convergence Divergence (MACD) shows a value of 0.0001, marginally above its signal line at 0.003, hinting at a potential increase in upward momentum. Additionally, the pair is trading above its 50-Day Exponential Moving Average (EMA) of 0.6842, reinforcing the current bullish trend.

In conclusion, the overall trend for the AUD/USD pair appears bullish above the $0.6785 level. If the pair sustains above this level, it could signal further upward movement in the short term, potentially testing higher resistance levels.

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

AUD/USD - Trade Ideas

Entry Price – Buy Limit 0.6820

Take Profit – 0.6881

Stop Loss – 0.6790

Risk to Reward – 1: 2

Profit & Loss Per Standard Lot = +$611/ -$300

Profit & Loss Per Mini Lot = +$61/ -$30



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