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

Daily Price Outlook

- Bullish Momentum: Trading above the 50-day EMA at $0.6780, indicating short-term strength.

- Resistance Levels: Immediate resistance at $0.6831, with further targets at $0.6849 and $0.6869.

- Support Levels: Critical support lies at $0.6773, with additional support at $0.6752 and $0.6728.

The AUD/USD pair is currently trading at $0.68066, reflecting a 0.26% increase as the Australian Dollar gains traction against the U.S. Dollar.

The pair is showing a bullish bias, comfortably trading above the 50-day Exponential Moving Average (EMA) positioned at $0.6780.

This moving average serves as a key support level, indicating that buyers have control in the short term.

The pivot point for the day is set at $0.6831, which also aligns with the first level of immediate resistance. A break above this resistance could open the door for further gains, with the next resistance targets at $0.6849 and $0.6869.

The Relative Strength Index (RSI) is currently at 60, suggesting a strong but not overextended momentum. This indicates that there’s room for the AUD/USD pair to climb higher before reaching overbought conditions.

On the downside, immediate support is seen at $0.6773, just below the 50-day EMA. Should the pair drop below this level, additional support is found at $0.6752 and $0.6728.

A break below these levels would likely shift the momentum to bearish, potentially inviting further declines.

For traders considering entering the market, an entry above $0.67955 looks favorable, with a take-profit target at $0.68312.

A stop-loss at $0.67732 is recommended to limit downside risk. Overall, while the short-term outlook remains bullish, traders should keep an eye on key resistance levels and the RSI for any signs of a reversal.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.67955

Take Profit – 0.68312

Stop Loss – 0.67732

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$357/ -$223

Profit & Loss Per Mini Lot = +$35/ -$22