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

Daily Price Outlook

- AUD/USD at $0.65284, eyes pivot point $0.6542 amid bearish momentum.

- RSI at 47 indicates consolidation; potential range-bound trading near key supports.

- Consider shorting below $0.65391; target $0.64931, stop loss at $0.65718.

The AUD/USD pair is trading at $0.65284, reflecting a decline of 0.18% as the currency struggles to maintain upward momentum amidst a strengthening U.S. dollar.

On the 4-hour chart, the pair is navigating just below the pivot point at $0.6542, a crucial threshold that could determine near-term direction. The current price action suggests potential for further declines, especially if the pair fails to reclaim ground above this pivot level.

Immediate resistance is seen at $0.6569, with subsequent hurdles at $0.6610 and $0.6643. These levels are key for bulls looking to reassert control and drive prices higher.

However, with the Relative Strength Index (RSI) at 47, the pair is hovering near the midpoint, indicating a lack of definitive momentum and the possibility of further consolidation.

On the downside, immediate support is located at $0.6493, with additional supports at $0.6459 and $0.6423. These levels are critical for maintaining the current trading range and could attract buyers if the AUD/USD tests these lows.

The 50-day Exponential Moving Average (EMA) at $0.6541 is slightly above the current price, suggesting that bearish pressures may persist unless a decisive move above this average occurs.

Traders might consider entering a short position below $0.65391, targeting a take profit at $0.64931, with a stop loss at $0.65718 to mitigate risk.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.65391

Take Profit – 0.64931

Stop Loss – 0.65718

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$460/ -$327

Profit & Loss Per Mini Lot = +$46/ -$32