Daily Price Outlook

- AUD/USD drops to $0.66716, down 0.08%, highlighting bearish sentiment.

- Pivot point at $0.6675; key resistance at $0.6690, $0.6704, $0.6719.

- RSI at 65; 50 EMA at $0.6630 provides strong support.

The AUD/USD pair is currently trading at $0.66716, showing a slight decline of 0.08%. The 4-hour chart highlights key technical levels that are crucial for traders. The pivot point at $0.6675 is a significant marker for determining the next direction of price movement. Immediate resistance is seen at $0.6690, with further resistance levels at $0.6704 and $0.6719. These resistance points are essential barriers that could cap any potential upward movement.

On the support side, immediate support is located at $0.6654, followed by stronger support levels at $0.6641 and $0.6630. These support levels are vital in preventing further declines in the AUD/USD pair.

Technical Indicators:

    The bearish outlook is supported by the current price action, which is below the pivot point of $0.6675. Market sentiment remains cautious, influenced by global economic factors and domestic data releases that impact the Australian dollar.


    For traders looking to capitalize on the current bearish trend, an entry price below $0.66745 is recommended. The take profit level is set at $0.66484, with a stop loss at $0.66897 to manage potential risks.

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

    AUD/USD - Trade Ideas

    Entry Price – Sell Below 0.66745

    Take Profit – 0.66484

    Stop Loss – 0.66897

    Risk to Reward – 1: 1.7

    Profit & Loss Per Standard Lot = +$261/ -$152

    Profit & Loss Per Mini Lot = +$26/ -$15



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