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

Daily Price Outlook

- Immediate resistance stands at $0.6767, with further targets at $0.6793 and $0.6816.

- RSI at 64 suggests bullish momentum but warns of near-term overbought conditions.

- Buy above $0.67336, targeting $0.67832 with a stop loss at $0.66962 to limit downside risk.

The Australian dollar (AUD/USD) is trading at $0.67478, down 0.13% for the day, as the pair continues to consolidate just above its pivot point of $0.6734.

The 4-hour chart shows a steady upward trend, although the pair has recently encountered minor selling pressure. The immediate resistance at $0.6767 is the key level for bulls to watch.

A break above this could open the door to further upside, with the next resistance levels at $0.6793 and $0.6816, where buyers may face greater opposition.

On the downside, immediate support sits at $0.6698, where the 50-day EMA aligns, providing a solid floor for the pair. If prices break below this level, the next support levels lie at $0.6667 and $0.6635, suggesting potential for a deeper pullback.

The RSI is currently at 64, indicating mild bullish momentum, but edging closer to overbought territory. This suggests that while the trend remains positive, there may be a short-term pause before the next significant move.

A break above $0.67336 offers a potential buying opportunity, with targets around $0.67832. Traders should maintain a stop loss near $0.66962 to manage risk in case of a reversal.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.67336

Take Profit – 0.67832

Stop Loss – 0.66962

Risk to Reward – 1: 3

Profit & Loss Per Standard Lot = +$496/ -$374

Profit & Loss Per Mini Lot = +$49/ -$37