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

Daily Price Outlook

- AUD/USD faces resistance at $0.6701; breaking above this could lead to bullish momentum.

- Immediate support lies at $0.6646, with further downside risks toward $0.6610.

- RSI of 46 shows neutral momentum, but a close watch on key support levels is crucial.

The AUD/USD pair is currently trading at $0.66698, up 0.08% on the day, in a consolidative pattern following a minor bullish movement.

The immediate pivot point sits at $0.6701, which aligns with the 50-day Exponential Moving Average (EMA), acting as a key resistance level.

This suggests that the pair is trading near a crucial juncture, with potential for both upward and downward movement depending on market conditions.

On the upside, immediate resistance is at $0.6720, followed by $0.6751 and a more significant barrier at $0.6793.

A break above $0.6720 could fuel further bullish momentum, targeting the higher resistance levels. However, AUD/USD would need to overcome the key pivot point at $0.6701 to signal a shift toward a sustained upward trend.

On the downside, immediate support is seen at $0.6646, followed by more substantial support at $0.6610 and $0.6580.

If the pair fails to maintain its position above $0.6646, bearish sentiment may deepen, with the next target likely at $0.6610.

The Relative Strength Index (RSI) is currently at 46, signaling neutral momentum with a slight bearish tilt, which could indicate limited upward potential unless fresh catalysts emerge.

For now, AUD/USD remains neutral to slightly bullish, with the $0.6701 pivot acting as a key battleground for both bulls and bears.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.66454

Take Profit – 0.67014

Stop Loss – 0.66154

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$560/ -$300

Profit & Loss Per Mini Lot = +$56/ -$30