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

Daily Price Outlook

- Consider short positions if AUD/USD breaks below the pivot point of $0.65738, aiming for an initial target at $0.65192 and adjusting stops to the $0.66344 resistance level.

- Monitor resistance at $0.66460; breaching this could invalidate the bearish outlook and shift momentum upwards.

- Stay cautious around the 50-Day EMA, as it could act as a dynamic support influencing the pair’s stability.

In today’s foreign exchange market, the AUD/USD pair is experiencing a notable decline, currently trading at $0.65977, down by 0.43%. This downward movement places the pair just above a significant pivot point at $0.65738, which serves as a potential turning point for future price movements.

The currency pair faces immediate resistance at $0.66460. If overcome, further hurdles await at $0.66907 and $0.67416. These resistance levels will play a critical role in determining the pair's short-term trajectory, especially if bullish momentum resumes.

Conversely, the AUD/USD has established substantial support at $0.65192, with additional lower supports at $0.64669 and $0.64110. These points could provide significant bounce-back potential should the pair continue its descent.

Technical indicators offer a mixed but slightly bearish view. The Relative Strength Index (RSI) is moderately placed at 54, suggesting that there is neither excessive bullish nor bearish momentum currently influencing the market.

However, the proximity of the 50-Day Exponential Moving Average (EMA) at $0.65531 just below the pivot reinforces the pivotal nature of current price levels.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.66344

Take Profit – 0.65738

Stop Loss – 0.66755

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$606/ -$411

Profit & Loss Per Mini Lot = +$60/ -$41