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

Daily Price Outlook

- AUD/USD trades at $0.64982, up 0.22%, with bullish sentiment below the $0.6538 pivot point.

- RSI at 47 indicates a neutral market; the 50-day EMA suggests resistance at $0.6526.

- Sell below $0.65234 with a take-profit at $0.64399; stop-loss set at $0.65687 for risk management.

The Australian Dollar (AUD) is showing modest strength against the US Dollar, with the AUD/USD pair trading at $0.64982, up 0.22% on the day. The currency pair is experiencing a short-term bullish trend, although it remains below the key pivot point of $0.6538.

Immediate resistance is found at $0.6569, with further hurdles at $0.6610 and $0.6643. The AUD/USD must break through these resistance levels to establish a stronger upward trajectory.

On the downside, immediate support is located at $0.6481, followed by additional support levels at $0.6439 and $0.6402.

These levels serve as critical markers for traders seeking to manage risk, as a decline below them could signify renewed bearish momentum.

The 50-day Exponential Moving Average (EMA) is currently at $0.6526, slightly above the current price, which could act as a barrier to further gains if the pair struggles to maintain its upward momentum.

The Relative Strength Index (RSI) is at 47, suggesting that the pair is neither overbought nor oversold.

This neutral reading indicates a balanced market, providing an opportunity for traders to capitalize on potential breakout or breakdown scenarios.

Given the current technical setup, the recommended strategy is to consider selling below $0.65234, with a take-profit target of $0.64399 and a stop-loss at $0.65687 to manage potential reversals.

AUD/USD - Trade Ideas

Entry Price – Sell Below 0.65234

Take Profit – 0.64399

Stop Loss – 0.65687

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$83/ -$453

Profit & Loss Per Mini Lot = +$83/ -$45