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

Daily Price Outlook

- Pivot Point: $0.6772 is a key level for further gains.

- Support Levels: $0.6714, $0.6684, and $0.6666.

- Resistance Levels: $0.6754, $0.6771, and $0.6792.

The AUD/USD pair is showing signs of strength, currently trading at $0.67517. The pivot point at $0.6772 will be crucial in determining whether the pair can sustain its upward momentum.

Immediate resistance is at $0.6754, with further hurdles at $0.6771 and $0.6792. If the price breaks above these levels, the pair could see further gains.

On the downside, immediate support is found at $0.6714, followed by $0.6684 and $0.6666. The RSI is nearing overbought territory at 69, indicating that the bullish momentum may soon face some resistance.

However, the 50-day EMA at $0.6662 is supportive, suggesting that the underlying trend remains positive.

Conclusion: Consider buying above $0.67372, with a target of $0.67715 and a stop loss at $0.67143.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.67372

Take Profit – 0.67715

Stop Loss – 0.67143

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$343/ -$229

Profit & Loss Per Mini Lot = +$34/ -$22